Pfizer's Medivation Buyout: One-Off Deal Or Start Of A Biopharma Spending Spree?
More and larger M&A deals could boost public biopharmaceutical companies, so investors will watch closely to see if Pfizer's $14bn Medivation acquisition kicks off a widespread spending spree. Speculation about who'll be bought next is in full swing.
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Losing Medivation could end up being a winning proposition for the French pharma if it can boost its cancer franchise another way, like by acquiring its partner in multiple collaborations Regeneron or making a less expensive takeout, such as Incyte or Ariad.
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.