Pharma BD Deal Intelligence
The acquisition of Array BioPharma.
GlobalData's Tajekesa Chapman: with Pfizer's proven expertise in drug development and commercialization, this deal would significantly strengthen Pfizer's…
Pfizer was lured by Array's cancer know-how, paying $11.4B for the BRAF/MEK combination that showed 48% reduction in death risk in BRAF-mutant colorectal…
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Pfizer acquired Array BioPharma in 2019 for approximately $11.4 billion ($48 per share in cash), gaining BRAFTOVI (encorafenib) and MEKTOVI (binimetinib), BRAF/MEK inhibitors approved in BRAF-mutant melanoma, plus a pivotal-stage program in BRAF V600E-mutant metastatic colorectal cancer (BEACON trial). The colorectal opportunity advanced materially: on February 24, 2026 the FDA granted full approval to BRAFTOVI in combination with cetuximab and fluorouracil-based chemotherapy (mFOLFOX6/FOLFIRI) for first-line BRAF V600E-mutant metastatic colorectal cancer, converting the December 2024 accelerated approval. The decision rested on the Phase 3 BREAKWATER trial, in which the regimen doubled median overall survival to 30.3 months versus 15.1 months (51% reduction in risk of death) and improved median progression-free survival to 12.8 versus 7.1 months. It is the only approved targeted regimen for first-line BRAF V600E-mutant mCRC. Reflecting the new label, the franchise has returned to growth: combined Braftovi/Mektovi sales were $202M in Q3 2025 (+17% YoY) and $197M in Q4 2025 (+16% YoY), after combined 2024 sales of roughly $600M. The deal's value-realization gap against the $11.4B purchase price persists, but the first-line CRC approval reopens the largest near-term growth lever in the franchise.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Pfizer Inc. / Array BioPharma Inc. (this deal) | 2019 | $11.4B | 72 |
| Pfizer Inc. / BioNTech SE | 2020 | $748M | 100 |
| Pfizer Inc. / FoldRx Pharmaceuticals | 2010 | — | 99 |
| Pfizer Inc. / Medivation Inc. | 2016 | $14.0B | 86 |
| Pfizer Inc. / Wyeth | 2009 | $68.0B | 86 |
| Pfizer Inc. / Warner-Lambert Company | 2000 | $90.0B | 83 |
| Pfizer Inc. / Arvinas, Inc. | 2021 | $2.4B | 77 |
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