Pfizer to buy Medivation for $14bn

posted by Phill Allen

August, 22nd, 2016

Company News Pharmaceutical Industry News

American global pharmaceutical corporation Pfizer confirmed today that it is to acquire cancer drug firm, Medivation, for around $14bn (£10.7bn).
Pfizer buy Medivation for $14bn
Takeover rumours have doubled its share price in the past six months. Pfizer confirmed the deal on its website on Monday morning.
Ian Read, chairman and chief executive officer of Pfizer, expected the acquisition of Medivation to “immediately accelerate revenue growth and drive overall earnings growth potential”.
San Francisco-based Medivation focuses on rapid development of novel therapies to treat serious diseases for which there are limited treatment options. The firm produces the prostate-cancer treatment Xtandi.
Mr Read added: “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, which we believe will drive greater growth and scale of that business over the long-term.”
Pfizer is set to pay around $81.50 per share for Medivation – a 21% premium on Medivation’s share price as of last Friday.

TAGS: Medivation, Pfizer,


Avatar photo


Phill Allen

Managing Director

An in and outside the (bioprocess) box thinker, fluid management specialist Phill knows a thing or two about keeping pharma liquid logistics flowing.

Syncing Success: ALLpaQ & The PC Support Group
Company News

Syncing Success: ALLpaQ & The PC Support Group

At ALLpaQ, we boast an unwavering commitment to quality – not only in our products but also in our people. […]

Dec 05th, 2023

ALLpaQ and Alflow Forge Exclusive Distributor Partnership
Company News Uncategorized

ALLpaQ and Alflow Forge Exclusive Distributor Partnership

Nov 01st, 2023