NEW YORK Pfizer has announced that it intends on buying Encysive Pharmaceuticals for about $195 million, according to the Associated Press.
As part of the deal, Pfizer would gain the rights to Encysive’s drug Thelin, which is approved in some European countries for the treatment of high blood pressure in the pulmonary artery. The drug is still awaiting approval in the U.S. Pfizer would also gain access to the rest of Encysive’s portfolio of drugs.
Pfizer already markets Revatio for high blood pressure in the pulmonary artery and Thelin would only strengthen the market for the company. Pfizer plans on conducting a late-stage trial of Thelin in the U.S. in hopes of obtaining final approval from the Food and Drug Administration.
Analysts project the drug could make about $100 million annually by 2012.