Pfizer is to buy Anacor Pharmaceuticals in a deal valued at $5.2 billion, net of cash, to gain access to Anacor's experimental gel for treating eczema.
Anacor shares rose nearly 54% in pre-market trading on Wall Street today, just below the offer price of $99.25 per share in cash.
The non-steroidal topical gel, crisaborole, is currently under review by the US Food and Drug Administration for the treatment of mild to moderate eczema.
Pfizer's current inflammation and immunology drugs portfolio includes Enbrel and Xeljanz, which target auto-immune diseases.
There have been no new molecules approved for eczema, or atopic dermatitis - a common, relapsing, inflammatory skin disorder that affects about 18-25 million people in the US - in the last 15 years.
Pfizer believes crisaborole has the potential to reach or exceed peak sales of $2 billion, the company said in a joint statement today.
Anacor also holds the rights to Kerydin, a topical treatment for toenail fungus marketed in the US by Novartis's Sandoz unit.
