Pfizer seals $14 billion deal to acquire Medivation

Blockbuster prostate cancer treatment Xtandi main prize

22nd August, 2016
Pfizer beats French drug maker to seal Medivation deal

Pfizer has agreed to buy Medivation in a deal that values the company at about $14 billion and leaves French drug maker Sanofi jilted. Pfizer will pay $81.50 a share in cash, the companies said in a statement this morning.

By acquiring Medivation, Pfizer gains a blockbuster prostate cancer treatment, Xtandi, that is already approved for sale in the US and elsewhere, and that analysts project will generate $1.33 billion in annual sales by 2020. Pfizer chief...

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