Pfizer Inc has upped the stakes in the pharma competition for new assets with an agreed takeover of Array BioPharma Inc for $11.4 billion. The transaction has been approved by the boards of both companies and will be financed with borrowings as well as cash, Pfizer said on 17 June. The deal comes nearly six months after Albert Bourla, the company’s former chief operating officer, took over as chief executive from Ian Read.
