Pfizer Inc. has completed its $36.4 million acquisition of assets of Lucira Health Inc., the Emeryville company that filed for bankruptcy protection after developing the first at-home molecular diagnostic test for COVID-19 and recently won approval for a combined COVID-flu test, the San Francisco Business Times reported. Pfizer, the maker of a COVID vaccine and COVID treatment, was chosen last week by Lucira and a committee of creditors over a higher bid by a unit of Aditxt Inc. Lucira and the committee said Pfizer's resources gave it the best ability to not only close the deal but carry on Lucira's product line. The bidding for Lucira's assets pitted Pfizer, the world's largest drug maker by revenue with nearly $23 billion in cash, equivalents and short-term investments, against the Pearsanta unit of immune system-focused Aditxt, which had to borrow $1 million to make the deposit to participate in the auction. Pfizer's bid consisted of $5 million cash and more than $20 million to cure various Lucira contracts and another $11 million for the manufacturer of the test kits, Jabil Inc. If the total cures come in under the $20 million mark, the difference will go to the Lucira estate.
