Pfizer to Acquire FoldRx

Drug company Pfizer (NYSE:PFE) has consented to acquire FoldRx, a pharmaceutical company that manufactures treatments for rare diseases in the U.S. and in the European Union.

The deal is expected to close this year, and Pfizer will pay a large sum up-front for the company, however the exact terms of the deal were not disclosed.

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The head of Pfizer's specialty-care business, Geno Germano, announced in a company release that the acquisition of FoldRx would add to the company’s portfolio of “investigational drugs” for rare diseases, and assist the company’s growth in the neuroscience disease arena.