as mentioned in fortune
Pfizer Nears Deal to Acquire Medivation For Close to $14 Billion
Pfizer Nears Deal to Acquire Medivation For Close to $14 Billion
Pfizer pfe is in advanced talks to acquire U.S. cancer drug company Medivation mdvn for close to $14 billion, as it seeks to boost its oncology portfolio, people familiar with the matter said on Sunday.Pfizer has agreed to pay a little more than $80 per share for Medivation, one of the people said, a substantial premium to the $52.50 offer for Medivation that France's Sanofi SA snynf made in April, which eventually resulted in the company putting itself up for sale.Medivation shares ended trading in New York on Friday at $67.16.Reuters reported earlier this week that Pfizer, Sanofi, Merck & Co merck-co-inc , Celgene celgz , and Gilead Sciences gild had submitted expressions of interest to acquire Medivation.
in like manner ibtimes
Pfizer (PFE) Nears Medivation Acquisition In $14 Billion Cash Deal
Pfizer (PFE) Nears Medivation Acquisition In $14 Billion Cash Deal
Less than four months after Medivation Inc. turned down a $9.3 billion takeover offer from French pharmaceutical heavyweight Sanofi SA, the company has reportedly reached an agreement with Pfizer Inc., the world's second-largest drugmaker, to be bought for about $14 billion.The deal is expected to be announced as soon as Monday.Many big names in the pharma space have been eyeing the San Francisco biotechnology company for its cancer drugs, particularly for Xtandi, which is used in the treatment for prostate cancer.This drug alone makes the company an attractive acquisition target, since prostate cancer is the second-most common cancer among men and one in every seven men is expected to be diagnosed with it during their lives.
additionally wsj
Pfizer Nears Agreement to Buy Medivation
Pfizer Nears Agreement to Buy Medivation
Pfizer Inc. is nearing agreement to buy biotech Medivation Inc. in a move that would add one of the crown jewels of the multibillion-dollar market for cancer drugs to Pfizer's portfolio, according to people familiar with the matter.The $14 billion all-cash deal could be announced as early as Monday, one of the people said.It would end months of bidding for San Francisco's Medivation, one of the most desired independent biotechs...
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