Pfizer set to announce acquisition of Medivation, WSJ says
Pfizer was set to clinch a deal to purchase oncology-treatment specialist Medivation.
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An all-cash $14bn deal might be announced as early as Monday, The Wall Street Journal reported overnight, citing people familiar with the matter.
San Francisco-based Medivation was the manufacturer of Xtandi, the market-leading drug for prostate cancer, which had already reached annual sales of $2bn.
A sucessful transaction would follow close on the heels of Pfizer's failed $150bn bid for Allergan and more than double the $6bn offered by French peer Sanofi SA earlier in the year.