Deals
Pfizer Said Close to $14 Billion Deal to Acquire Medivation
- Pfizer would expand portfolio with prostate cancer drug
- French drugmaker Sanofi’s ambitions would suffer setback
Pfizer Tops Sanofi in $14 Billion Medivation Deal
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Pfizer Inc. is close to an agreement to buy Medivation Inc. for about $14 billion, people familiar with the situation said, the latest in a long run of blockbuster deals in the drug and biotechnology industries.
The deal may be announced as early as Monday, said the people, who asked not to be identified because the matter is still private. The biotech company’s shares closed at $67.16 on Friday, giving it a market value of $11.1 billion.