Pfizer seals $14 billion deal to acquire Medivation
Blockbuster prostate cancer treatment Xtandi main prize
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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