Pfizer to purchase Vicuron for $1.9 billion

Under the definitive 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. This price represents a 74% premium over Vicuron’s 90 day average closing share price.

By acquiring Vicuron, Pfizer will strengthen its anti-viral research capabilities. Vicuron already has two products currently under review for a new drug application at the FDA, one for the treatment of fungal infections, anidulafungin, and another for gram-positive infections called dalbavancin.

“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.

“This transaction builds on Pfizer’s extensive experience in anti-infectives and demonstrates our commitment to strengthen and broaden our pharmaceutical business through strategic product acquisitions,” added McKinnell.

Pfizer already has an existing collaboration with Vicuron that has made significant advances in the discovery of potential next-generation oxazolidinones, the first new class of antibiotics in more than 30 years. These orally-active antibiotics are aiming to have improved potency and a broader spectrum of activity than existing classes of compounds. Several Vicuron compounds are currently being evaluated at Pfizer as potential clinical development candidates.

Completion of this 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.