Health Care

Pfizer buys Array BioPharma for $11.4 billion

A scientist works in a cancer research lab.
An Array BioPharma research lab. Photo: Paul Aiken/Digital First Media/Boulder Daily Camera via Getty Images

Pfizer has agreed to buy Array BioPharma for $48 per share, or $11.4 billion after including Array's debt. Array had never traded above $30 per share before this acquisition.

The bottom line: This is another deep-pocketed move into cancer medicines from a Big Pharma company. Array already is selling 2 FDA-approved drugs for melanoma, and Pfizer is banking on Array's other in-progress therapies to treat patients with colon cancer.

SoftBank leads $205 million investment in Collective Health

A computer screen showing the Collective Health interface.
An employer's view of its Collective Health data. Photo: Collective Health

Collective Health is raising $205 million in a new funding round led by a new investor, SoftBank's Vision Fund.

Why it matters: Employers are looking to make health benefits simpler and cheaper for their workers. That's the thesis behind Collective Health's technology, and the startup now has one of the largest investment firms in the world in its corner.