Pfizer has agreed to acquire Encysive Pharmaceuticals, a publicly held biopharmaceutical company which had been open to acquisition offers since mid-2007. This article examines Encysive#8217;s problems in the US with its lead drug candidate, Thelin#174; (for pulmonary arterial hypertension) and what the company has to offer Pfizer apart from this drug, and also looks at Pfizer#8217;s recent acquisition history, its biologics strategy, and the way that the company plans to make up for the loss of revenues after Lipitor#174; (its best-selling anti-cholesterol drug) loses exclusivity in November 2011.