Good morning, everyone, and welcome to another working week. We hope the weekend respite was relaxing and refreshing, because that oh-so-familiar routine of meetings, deadlines, calls, and the like has, of course, returned. You knew this would happen, yes? After all, the world keeps spinning no matter how hard we try to slow things down a bit. So what else is there to do but reach for a cup of stimulation — our choice is whiskey-flavored Jack Daniels — and get started on the journey? Hope yours goes well and, as always, do keep in touch …
Pfizer (PFE) plans to acquire Array Biopharma (ARRY) for $11.4 billion in cash, which is known not only for developing its own medicines but as being a top choice among biotechnology firms that need to synthesize new drugs, STAT writes. The deal gives Pfizer access to a pair of drugs that are approved for treating metastatic melanoma. The combined therapy is currently being tested in more than 30 clinical trials for other tumor-related diseases, such as metastatic colorectal cancer.
Oklahoma Gov. Kevin Stitt and the state’s Republican legislative leaders are raising concerns about a proposed $85 million settlement with Teva Pharmaceutical (TEVA) that has yet to be approved by a judge, the Associated Press reports. In a brief filed Friday, they maintain the proposed settlement does not comply with new state law that directs any settlement funds directly into the state treasury. The law was passed last month after lawmakers openly grumbled about how Attorney General Mike Hunter structured a $270 million settlement with Purdue Pharma.
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