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Pfizer completes acquisition of Excaliard Pharmaceuticals

Pfizer has completed the acquisition of Excaliard Pharmaceuticals.

23 November 2011

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 partners".

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 it.

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 Technology.

Posted by Ken Hayes

Source: Pfizer press release, November 22nd

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