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Fly News Breaks for May 17, 2016
PFE, ANAC
May 17, 2016 | 07:39 EDT
Leerink analyst Seamus Fernandez says Pfizer's (PFE) all-cash $5.2B deal to acquire Anacor (ANAC) came as a surprise to him. However, the deal is "intriguing" as it provides a "meaningful" additional revenue stream within the Innovative Business and leverages Pfizer's footprint in pediatrics and primary care, the analyst tells investors in a research note. Fernandez reiterates a Market Perform and $35.50 price target on Pfizer's shares.