Home » Pfizer to Purchase Medivation for $14 Billion
Pfizer to Purchase Medivation for $14 Billion
August 23, 2016
Pfizer has entered into an agreement to acquire the U.S. drugmaker Medivation for close to $14 billion to boost its oncology portfolio.
Under the terms of the proposed deal, Pfizer will pay more than $80 dollars a share for Medivation, outbidding French drug giant Sanofi, which made an offer for $52.50 per share in May.
Pfizer’s oncology portfolio includes breast cancer treatments and immuno-oncology candidates. The acquisition will expand Pfizer’s portfolio to comprise Medivation’s cancer drug Xtandi and candidate talazoparib.
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