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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The former Medivation CEO, after a brief detour heading up Axovant, is returning to oncology, but the new company is keeping details about the seven cancer drug programs in its pipeline under wraps.
Pfizer will be active in business development, management said, but with a focus on building out the pipeline with bolt-on deals in the range of a "few billion." Gene therapy remains one area of interest.
The PARP inhibitor, acquired with Medivation, will launch in a field where Pfizer already has commercial experience through its CDK4/6 inhibitor Ibrance.