American pharmaceutical company Pfizer can buy a biotech company Medivation Inc., which produces the cure of prostate cancer, for $ 14 billion in cash, reports The Wall Street Journal, citing a source.
The deal can announce on Monday.
It is noted that this deal is very beneficial for Pfizer, Medivation as one of the most coveted independent biotech companies in the pharmaceutical market.
The sale of one of the world’s leading means of cancer of the prostate Xtandi, Medivation bring about $2 billion in profit per year. According to analysts, this amount may grow by more than two times.
Reportedly, Pfizer, using drugs that are at Medivation in development, plans to expand the list of tools for immunotherapy against cancer. The company already produces the cure for breast cancer, Ibrance.