Pfizer completes Therachon buy

Pfizer has announced the successful completion of its acquisition of the privately held clinical-stage biotechnology company, Therachon Holding.

Under the terms of the transaction, Pfizer acquired the Switzerland-based biotech for $340 million with an additional $470 million in additional payments contingent on the achievement of key milestones in the development and commercialization of TA-46. TA-46 is an investigational medicine for the treatment of achondroplasia, a genetic condition and the most common form of short-limb dwarfism.

Pfizer intends for the early clinical development program for achondroplasia to augment its Rare Disease portfolio.

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