NEW YORK (CBSDFW.COM/AP) — It’s a deal worth more than $10 billion. Pfizer is buying the cancer treatment company Array BioPharma.

Array has a combination therapy for BRAF-mutant metastatic melanoma, along with a pipeline of targeted cancer medicines in development and a portfolio of other medicines that are expected to generate significant royalties over time.

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It announced significant advancement in the treatment of colorectal cancer last month.

Array’s employees will remain in their current locations, which include Massachusetts, North Carolina, Colorado, California and New York.

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Pfizer Inc. will pay $48 per share and expects the deal to complete the deal later this year.

Shares of Array BioPharma Inc. surged 60 percent before the opening bell Monday.

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