U.S futures turn bullish following surging crude oil

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    MONDAY: Amid acquisitions responsible for uplifting U.S. futures today, Pfizer announced to acquire Anacor Pharmaceuticals Inc in cash worth $4.5 billion.

    Keeping in view an unaccomplished Allergan merger, it preferred to set least amount for deal this time.

    In accord with official press release information, the drug manufacturer will acquire Anacor (ANAC) with an estimate per share of $99.25 – i.e. a 55% premium to Friday’s cost at session end.

    The deal, incorporating debt is valued at $5.2 billion, as per information provided by both the companies.

    As Pfizer is drowned into inflammation, Palo Alto-based Anacor would be a suitable alternative for its immunology portfolio – Anacor has no products on the market, but its flagship asset, crisaborole, is currently under review by the U.S. Food and Drug Administration for the treatment of *eczema.

    (*also known as Dermatitis – inflammation of the skin characterized by itchy, erythematous, vesicular, weeping, and crusting patches)

    “We believe the acquisition of Anacor represents an attractive opportunity to address a significant unmet medical need for a large patient population with mild-to-moderate atopic dermatitis, which currently has few safe topical treatments available. Our dedicated Inflammation and Immunology group has strong existing in-market franchises with Enbrel and Xeljanz, as well as a robust mid-stage pipeline, and this acquisition has the potential to add a near-term U.S. product launch. We believe we are well positioned to maximize crisaborole’s commercial potential through our strong relationships with pediatricians and primary care physicians.” – Group President of Pfizer’s Global Innovative Pharma and Global Vaccines, Oncology and Consumer Healthcare Businesses, Albert Bourla

    New York-based, Pfizer’s looks onto complete its transaction by 3Q. However it’ll not be impacting its guidance for the annual scale.

    UPDATE: The transaction will be slightly dilutive to Adjusted Diluted EPS in 2017 with accretion to Adjusted Diluted EPS beginning in 2018 and increasing thereafter.

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    She is the Managing Editor for in-depth discussions and analysis as well as breaking news at Markets Morning. She works closely with Editor-in-Chief Zac Berry on content and publishing initiatives for the site. Brianna Clemons has worked as a financial journalist and editor since 1997. She lives in Bucks County, PA, with her husband, four young children and one dog.

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