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Happy birthday Colin Jacob Siegel!

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Wyoming Valley Art League’s May Sunday at the Circle event features Northeastern Pennsylvania pianist Wayne Smith

<p>Pfizer Inc. has agreed to buy Anacor Pharmaceuticals Inc. for $5.2 billion, gaining control of an experimental treatment for the skin condition eczema in its first deal since walking away from a $160 billion takeover of Allergan.</p><p>Pfizer will pay $99.25 in cash for each Anacor share, the companies said in a statement Monday. The transaction, which represents about a 55 percent premium to Friday&#8217;s closing price, is scheduled to be completed in the third quarter and may start adding to Pfizer&#8217;s earnings in 2018.</p><p>Chief Executive Officer Ian Read said this month that Pfizer was looking to acquire products that are close to hitting the market, while considering a split of the business in the wake of its failed attempt to buy Allergan. Anacor&#8217;s crisaborole drug, which the Federal and Drug Administration is scheduled to make a decision on by Jan. 7 for the treatment of mild-to-moderate eczema, could have peak annual sales of $2 billion, Pfizer projected, helping bolster its inflammation and immunology group.</p><p>About 18 million to 25 million people in the United States suffer from eczema, whose main symptom is a chronic rash that can last two weeks or more. Anacor also holds the rights to Kerydin, a treatment for toenail fungus that is commercialized by Novartis&#8217;s Sandoz in the United States and competes with Valeant Pharmaceuticals International&#8217;s Jublia.</p><p>Pfizer has said it will decide by the end of the year whether to break up, which could offer tax benefits, and could have the transaction done by the end of 2017. The drugmaker dropped its mega-merger with Allergan in April after the U.S. Treasury announced rules that would have reduced the tax benefits of that deal.</p><p>Conover said this is likely one of several deals Pfizer will do this year as it prepares for a potential split.</p><style>
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<div class="metaInfo"><bylineMeta><p>Bloomberg News</p></bylineMeta></div>

Pfizer to buy eczema drugmaker Anacor for $5.2 billion