Pfizer Nears Deal to Acquire Medivation for Close to $14 Billion

August 22, 2016 10:45 AM

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Pfizer Nears Deal to Acquire Medivation for Close to $14 Billion

Pfizer is in advanced talks to acquire U.S. cancer drug company Medivation for close to $14 billion, as it seeks to boost its oncology portfolio, people familiar with the matter said on Sunday.

Pfizer has agreed to pay a little more than $80 per share for Medivation, one of the people said, a substantial premium to the $52.50 offer for Medivation that France's Sanofi SA made in April, which eventually resulted in the company putting itself up for sale. Medivation shares ended trading in Ne...

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