OK. New unemployment filings continued to rise in Colorado last week, an indication that the economic recovery from the coronavirus-spurred recession is as uneven at altitude as it has been across the nation as a whole. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Boulder’s Array BioPharma to be acquired by…, Click to share on Facebook (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Twitter (Opens in new window), Click to email this to a friend (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on Tumblr (Opens in new window), Submit to Stumbleupon (Opens in new window). Pfizer Inc. () - Get Report said Monday it has agreed to acquire Array Biopharma () - Get Report in an all-cash deal that values the cancer drug specialist at around $11.4 billion. He previously wrote about management and corporate strategy for Quartz and Business Insider. The boards of both companies have approved the merger. Also, the company has developed drugs for other companies that would net Pfizer royalties. and Morrisville, N.C. as well as Boulder, which becomes part of Pfizer’s Oncology Research & Development network in addition to La Jolla, Calif. and Pearl River, N.Y. Array’s stock price “rocketed 56% toward a record high in premarket trading Monday,” according to MarketWatch. GET BREAKING NEWS IN YOUR BROWSER. The pharmaceutical company Pfizer said early Monday that it would buy Array BioPharma, a maker of cancer drugs, for $48 a share in cash. Array CEO Ron Squarer in a statement said, “We are incredibly proud that Pfizer has recognized the value Array has brought to patients and our remarkable legacy discovering and advancing molecules with great potential to impact and extend the lives of patients in critical need. Array is expected to generate $274 million in revenue this year, and that figure is expected to pass $1 billion by 2022. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Pfizer’s relatively anemic projected sales growth and drug pipeline mean that, cost aside, a deal like this makes sense. About 40 years ago, Dan Gallery and his sister, Debbie, saw an opportunity to expand the reach of the family's Chicago-style deli by selling food from a hot-dog cart in downtown Denver. Pfizer agreed to spend $11 billion to buy Array BioPharma, a company that is developing small molecule medicines primarily to treat cancer. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Pfizer's Array deal is more costly than other recent cancer biotech takeovers. Array BioPharma rose more than 50% before the opening bell on Monday after Pfizer offered $11 billion to buy the biotechnology company.. Pfizer is offering $48 a share for Array… Pfizer Inc. agreed to buy Array BioPharma Inc. for $10.64 billion in cash, as one of the world’s biggest pharmaceutical companies seeks to expand its cancer lineup with targeted therapies. Array BioPharma is a commercial stage biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule medicines to treat cancer and other diseases.