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Pfizer to Buy US Drug Co. for $14b
World Economy

Pfizer to Buy US Drug Co. for $14b

Pfizer is in advanced talks to acquire US cancer drug company Medivation for close to $14 billion, as it seeks to boost its oncology portfolio, a person familiar with the matter said, Reuters reported. Pfizer has so far prevailed in the auction for Medivation and could announce a deal as early as Monday, though the negotiations could still fall apart at the last minute, the person said. Pfizer and Medivation declined to comment. The Financial Times first reported on Pfizer nearing a deal for Medivation earlier on Sunday.

 

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