as informed in cnbc
Pfizer buys Medivation for $14 billion in cash
Pfizer buys Medivation for $14 billion in cash
The acquisition will give Pfizer access to Medivation's successful cancer treatments under development.Pfizer said on Monday it would buy U.S. cancer drug company Medivation in a deal valued at about $14 billion, adding blockbuster prostate cancer drug Xtandi to its portfolio.Medivation shares were up 20 percent at $80.56 in premarket trade, just shy of the offer price of $81.50 per share in cash.The offer is at a substantial premium to Sanofi initial offer to buy Medivation for $52.50 in April that pushed the San Francisco-based company to put itself up for sale.
in the same way washingtonpost
Pfizer to acquire Medivation for $14 billion
Pfizer to acquire Medivation for $14 billion
Pfizer will pay $14 billion to acquire the highly sought-after biotech firm, Medivation company.Medivation sells Xtandi, which is a prostrate cancer drug that pulls in about $2 billion in annual sales.(Reuters; Photo: Getty Images)Pharmaceutical giant Pfizer announced Monday that it has agreed to acquire Medivation in a $14 billion deal that would add a blockbuster drug to its cancer pipeline.Medivation, a San Francisco biopharmaceutical company, has been highly sought after in recent months.
furthermore toledoblade
Pfizer to pay $14 billion for Medivation
Pfizer to pay $14 billion for Medivation
WASHINGTON — Pharmaceutical giant Pfizer Inc. is paying $14 billion to buy Medivation Inc., a San Francisco biotech company that sells a high-priced prostate cancer medication discovered by UCLA.A year's worth of the drug, Xtandi, sells for about $129,000, and the medicine has generated about $2.2 billion in net sales worldwide over the last year, the companies said Monday in announcing the deal."We believe that Pfizer is the ideal partner to extend the reach of our blockbuster Xtandi franchise and take our promising, late-stage assets — talazoparib and pidilizumab — to their next stages of development so that they can be made available to patients as quickly as possible," said Dr. David Hung, Medivation's founder and chief executive.Talazoparib is a breast cancer drug that is in phase 3 clinical trials.
in like manner cnbc
Medivation shares surge on Pfizer's $14 billion offer
Medivation shares surge on Pfizer's $14 billion offer
Shares of Medivation surged more than 20 percent Monday in premarket trading after Pfizer said it would buy the cancer drug company for about $14 billion.Pfizer will pay Medivation shareholders $81.50 per share in cash, a 21 percent premium to Medivation's closing stock price Friday of $67.16.Ian Read, chairman and CEO of Pfizer, said in a joint press release the proposed deal is expected to "immediately accelerate revenue growth and drive overall earnings growth potential for Pfizer.""The addition of Medivation will strengthen Pfizer's Innovative Health business and accelerate its pathway to a leadership position in oncology, one of our key focus areas," he said, "which we believe will drive greater growth and scale of that business over the long-term.
No comments:
Post a Comment