Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search
 

cali

(114,904 posts)
Mon Aug 22, 2016, 07:34 AM Aug 2016

Pfizer to Buy Medivation for $14 Billion

Pfizer Inc. said Monday it has agreed to buy biotech Medivation Inc. for $81.50 a share, valuing the total company at about $14 billion, in a move that adds one of the crown jewels of the multibillion-dollar market for cancer drugs to Pfizer’s portfolio.

News of the impending deal was reported Sunday.

It ends months of bidding for San Francisco’s Medivation, one of the most desired independent biotechs because it sells a leading prostate-cancer drug.

The deal is a 21% premium to Medivation’s closing share price Friday. Medivation shares traded up 20% to $80.59 as Pfizer shares fell 0.1% to $34.95 in premarket trading.

Medivation’s drug, Xtandi, already generates about $2 billion in yearly sales and has potential to more than double, according to analysts.

<snip>
http://www.wsj.com/articles/pfizer-to-buy-medivation-for-14-billion-1471864168

3 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Pfizer to Buy Medivation for $14 Billion (Original Post) cali Aug 2016 OP
These mega mergers have got to stop. Initech Aug 2016 #1
Monopolies are disturbing. cali Aug 2016 #2
Get ready for the price increases Calculating Aug 2016 #3
Latest Discussions»General Discussion»Pfizer to Buy Medivation ...