Pfizer Pharmaceutical Company buys Array paying 11.4 billion euros
by Carolina la Torre – Europe lessons – 18 June 2019
The pharmaceutical company Pfizer is the largest company operating in the research, production and development of drugs, a global giant with an innovative, modern R&D (Research and Development) division, first in the world.
Despite a contraction resulting from the crisis in recent years, Pfizer seems to have not lost the habit of investing in the future and today's event is placed in the coherence of founding values and a corporate culture that made the fortune of this giant, listed on the stock exchange from New York.
The company, born and founded under the brief presidency of Zachary Taylor, today takes another step forward in medicine and this event should be welcomed by all humanity as the intention to go beyond the current protocols used underperforming, to cure some pathologies.
Pfizer, by purchasing the Array Biopharma company, confirms this will. Array is a biopharmaceutical company whose core business is the discovery, development and commercialization of products aimed at treating cancer, in all its forms and other serious diseases.
It is, therefore, a giant step by the global giant to try to defeat this evil that afflicts all humanity, acquiring resources, know-how and specialized personnel with a background available to be strengthened by the knowledge of similar profiles present in Pfizer .
As regards the commercial side of the transaction, the acquisition of Array Biopharma was concluded by paying 48$ per share, with a total value paid of 11.4 billion dollars (the so-called enterprice value). The transaction envisages a part liquidated in cash and the other through debt and financial liabilities.
Having laid the foundations for an acquisition that will revolutionize the entire global pharmaceutical sector, especially on the research side, accelerating it, we await the completion of the whole process by the second half of this year 2019: this time is normal and functional at the same time organisational, logistic and bureaucratic, as well as financial passage.
Following the announcement, Pfizer (PFE) shares settled at 42.88$, gaining +0.30%.
Related news: Pfizer Expands in Cancer With $10.6 Billion Deal for Array
Note: Ron Squarer, CEO and Director of Array Biopharma Inc., aged 51, received compensation of $5.564.866 [source Bloomberg]
Albert Bourla, CEO and Director of Pfizer Inc. since January 2019, aged 56, previously served as Executive Director since February 23, 2018. During the 2018 fiscal year, he received compensation of $9.854.557 [source Bloomberg]
