Pfizer to acquire oncology specialist Medivation for $ 14 bn
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Posted on:25 Aug 2016 09:34:58
25 August 2016 Current Affairs: The US-headquartered pharma major Pfizer Inc has entered into an agreement to acquire Medivation Inc, a biopharmaceutical company focused on developing and commercialising small molecules for oncology, for a total enterprise value of approximately $ 14 billion.
The merger will give a boost to Pfizer’s consolidation effort through a series of acquisitions, especially after its bid to take over Allergan Plc in a $150 billion deal late last year fell apart when the Obama administration prevented the proposed combination with new rules.
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