Pfizer Inc. agreed to buy Anacor Pharmaceuticals Inc. for $5.2 billion, gaining control of an experimental treatment for the skin condition known as eczema in its first deal since walking away from a $160 billion takeover of Allergan Plc.

Pfizer will pay $99.25 in cash for each Anacor share, the companies said in a statement on Monday, about 55 percent higher than Friday’s closing price. Anacor’s crisaborole drug, which the U.S. Federal and Drug Administration is scheduled to make a decision on by Jan. 7 for the treatment of mild-to-moderate eczema, could reach annual sales of $2 billion, Pfizer projected, helping bolster its inflammation and immunology group.

Chief Executive Officer Ian Read said this month that Pfizer was looking to acquire products that are close to hitting the market, while considering a split of the business in the wake of its failed attempt to buy Allergan. The Anacor transaction may be a step closer toward ultimately breaking up the drugmaker, according to John Boris, a SunTrust Robinson Humphrey Inc. analyst.