A buyer’s market? Not when it comes to commercial-stage oncology assets – as the case of Medivation Inc. shows. Pfizer Inc. announced Aug. 22 that it won the competitive bidding process for the Xtandi (enzalutamide) developer, agreeing to pay $81.50 per share, or roughly $14bn, well above even the high-end forecasts of some analysts.
Pfizer’s $14bn Medivation Buyout Shows How Far Pharma Will Go In Oncology
The competitive bidding process for Medivation shows just how much big pharma is willing to pay for commercial-stage oncology assets. Now that Pfizer has won the biotech, it will have to prove Xtandi is worth the price.
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