Amarin Corp Plc (AMRN)

[sts66]

Knock PFE off the potential BO list? PFE has only $2B in COH and a whopping $37B in long term debt, not including the ~ $11B they just added with this oncology play BO - they can't afford AMRN:

Pfizer to Acquire Array BioPharma

- Proposed acquisition strengthens Pfizer's innovative biopharmaceutical business and is expected to accelerate its growth trajectory particularly in the long term

- Opportunity to strengthen category leadership in Oncology with the addition of a breakthrough combination of BRAF/MEK inhibitors under investigation for a potential first-in-class therapy for patients with BRAF-mutant metastatic colorectal cancer

- Expands Pfizer's pipeline with multiple high-potential targeted investigational cancer therapies and adds a large portfolio of royalty-generating out-licensed medicines

- Plans to maintain highly productive research unit in Boulder to complement Pfizer's research hubs

- Transaction valued at $48 per Array share in cash, for a total enterprise value of approximately $11.4 billion

"Today's announcement reinforces our commitment to deploy our capital to bring breakthroughs that change patients' lives while creating shareholder value," said Albert Bourla, chief executive officer of Pfizer. "The proposed acquisition of Array strengthens our innovative biopharmaceutical business, is expected to enhance its long-term growth trajectory, and sets the stage to create a potentially industry-leading franchise for colorectal cancer alongside Pfizer's existing expertise in breast and prostate cancers."

Pfizer expects to finance the majority of the transaction with debt and the balance with existing cash. The transaction is expected to be dilutive to Pfizer's Adjusted Diluted EPS by $0.04 -$0.05 in 2019, $0.04 -$0.05 in 2020, neutral in 2021, and accretive beginning in 2022, with additional accretion and growth anticipated thereafter. Pfizer will provide any appropriate updates to its current 2019 guidance in conjunction with its third quarter 2019 earnings release.