Pfizer to acquire cancer-drug maker Medivation

August 22, 2016 5:37 PM

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Pfizer to acquire cancer-drug maker Medivation

Pharmaceutical giant Pfizer said Monday that it had reached a deal to acquire cancer-drug maker Medivation for about $14 billion, including the assumption of debt.

The deal makes Pfizer (PFE) the winner in a bidding war that started when French drug firm Sanofi offered about $9.3 billion for Medivation in April.

Also read: House Passes Health Bill to Speed Drug Approvals, Boost Biomedical Research

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