Pfizer (NYSE:PFE) said today it has agreed to acquire skin fibrosis treatment developer Excaliard Pharmaceuticals, for an undisclosed sum.
The acquisition is part of Pfizer's corporate research and development strategy to complement its internal project pipeline with innovative and differentiated drugs from biotech partners, Pfizer's chief of research and development said.
Excaliard's lead product is designed to interrupt the process of skin fibrosis, or scarring, by inhibiting expression of connective tissue growth factor.
The acquisition is expected to close by the end of the year.
Isis Pharmaceuticals (ISIS) said it will receive up to $14 million from Pfizer in exchange for its equity ownership in Excaliard, including an upfront payment of $4.4 million, and milestone payments of up to $9.6 million.
Also today, insurer United Health Group (NYSE:UNH) said its UnitedHealthcare has agreed to acquire Medicare health plan sponsor XLHealth, without disclosing financial terms of the deal.
UnitedHealthcare said the acquisition will enhance its Medicare Advantage portfolio.
The transaction is expected to close in the first half of 2012.
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