Pfizer completes acquisition of Excaliard Pharmaceuticals
Pfizer has completed the acquisition of Excaliard Pharmaceuticals.
Drug manufacturing giant Pfizer has agreed a deal that will see
it take over Excaliard Pharmaceuticals.
Sales negotiations are expected to be completed by year's end
and it forms part of the development strategy of Pfizer.
Mikael Dolsten, president of worldwide research and development
at the firm, said it is part of a process that will see the
organisation "actively complement our robust internal project
pipeline with innovative and differentiated drugs from biotech
Senior vice-president of biotherapeutics Jose-Carlos
Gutierrez-Ramos continued by saying the focus Excaliard has on new
treatments is one of the main reasons that Pfizer was attracted to
The terms of the agreement have not been made public but there
will be some form of upfront payment to Excaliard.
It comes after Pfizer announced it has taken a ten-year lease
for its Cardiovascular, Metabolic and Endocrine Diseases section as
part of a link-up with the Massachusetts Institute of
Posted by Ken Hayes
Source: Pfizer press release, November 22nd