Why Pfizer's Acquisition of Array BioPharma Won't Pay Off Anytime Soon [The Motley Fool]
Pfizer, Inc. (PFE)
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Source: The Motley Fool
Why Pfizer's Acquisition of Array BioPharma Won't Pay Off Anytime Soon Keith Speights ( TMFFishBiz Jun 7, 09 at :00PM Pfizer NYSE:PFE Array BioPharma NASDAQ:ARRY The price tag on the deal was great news for Array shareholders. Pfizer will pay around $8 per share in cash -- % above Array's Friday closing price -- for a total of around $. billion. Array stock understandably skyrocketed in early trading on Monday But how great is this news for Pfizer shareholders? That's a tougher question to answer. Pfizer's share price slipped a little in the initial hours of trading after the transaction was announced. The problem for investors is that the Array acquisition won't pay off anytime soon. Image source: Getty Images. What Pfizer will get Make no mistake: Pfizer is getting a couple of promising drugs in this deal. Braftovi and Mektovi are already approved for treating metastatic melanoma. Last month, Array announced that those two drugs combined for $. million in sales during its fiscal thi
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