August 2016: Pfizer Seals $14 Billion Deal
Here's a slideshow depicting the major science and disaster news events of August 2016.
1. Scientists Announce Artificial Neuron 2. Moon Express 3. Perseids Put on Impressive Display 4. Louisiana Under Water 5. Blue Cut Fire Sparks State of Emergency 6. Pfizer Buys Medivation for $14 Billion 7. Earthquake Rocks Italy 8. Discovery of Earth-like Planet: Proxima b 9. Mylan Will Offer Generic EpiPen
- Pfizer Seals $14 Billion Deal
- On August 22, 2016, Pfizer announces the purchase of the San Francisco biotech company Medivation Inc. for $14 billion. Medivation Inc. sells a prostate cancer drug, Xtandi, that has made over $2 billion in net sales worldwide over the last year. Xtandi attracts the attention of many large pharmaceutical companies since it is also being tested for breast cancer treatment. Medivation Inc. has two other drugs—talazoparib and pidilizumab—that need to be taken to the next stages of development so patients can have access to them. Dr. David Hung, Medivation's founder and CEO, believes Pfizer is the ideal company to partner with during this process.
- Photo source: AP Photo/Mark Lennihan, File