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Pfizer pens $10.6B acquisition

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Pfizer Inc. announced it would buy Array Biopharma for $16.4 billion in cash.

Array makes approved treatments for skin cancer.

"(The acquisition) sets the stage to create a potentially industry-leading franchise for colorectal cancer alongside Pfizer's existing expertise in breast and prostate cancers," Pfizer CEO Albert Bourla said.

Read more from Reuters.

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