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Pfizer Purchasing Array BioPharma looks smart for new results for the drug



New results from a colorectal cancer study by Array BioPharma appear to confirm Pfizer's decision last month to acquire the drug.

Array's colorectal cancer drugs were a major feature of Pfizer (ticker: PFE), who hoped to build on their own offers in space. Analysts said the results – which confirmed results Array (ARRY) had previewed in May – are unlikely to have any impact on the Pfizer agreement, since it is probably priced in the study's findings. If anything, the new data seems to validate Pfizer's strategy.


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