Pfizer and Vicuron Pharmaceuticals today announced that they have entered into a merger agreement whereby Pfizer will acquire Vicuron, a biopharmaceutical company focused on the development of novel anti-infectives for hospital-based and community-acquired infections.
Under the merger agreement, Pfizer will acquire all outstanding shares of Vicuron common stock at a price of $29.10 per share in cash, for an aggregate equity purchase price of approximately $1.9 billion.
Vicuron has two products currently under New Drug Application (NDA) review at the US Food and Drug Administration (FDA): anidulafungin for fungal infections and dalbavancin for Gram-positive (fatal) infections.
“By acquiring Vicuron, we can help bring two very important new medicines to patients around the world,” said Hank McKinnell, chairman and chief executive officer of Pfizer.
Pfizer already has an existing collaboration with Vicuron that has made advances in the discovery of potential next-generation oxazolidinones, the first new class of antibiotics in more than 30 years.
“We believe this transaction is in the best interests of our shareholders and will enable Vicuron’s two near-term products to utilise Pfizer’s capabilities in order to fully achieve their potential,” said George F. Horner III, President and Chief Executive Officer of Vicuron.
Completion of the transaction is subject to regulatory approval, Vicuron shareholder’s approval and other customary closing conditions. The acquisition is expected to close during the third quarter of the year.