Pfizer buying biotech company Medivation

The pharmaceutical giant Pfizer has confirmed in a statement the purchase of biotech company Medivation, in a deal to the tune of $ 14 billion.
The operation adds to the pharmaceutical portfolio one of the main representatives of the multibillion-dollar market for drugs against cancer.
Pfizer said it intends to pay $ 81.50 for role of Medivation, and designing a valuation of about $ 0.05 in earnings per share in the first year after the completion of the operation. The company also stated that existing liquidity resources should be used to fund the acquisition.
"The acquisition of Medivation instantly should accelerate revenue growth and boost global growth potential profits for Pfizer," said Ian Read, President of pharmaceuticals. It is expected that the deal is completed in the third or fourth quarter of this year.
The deal ends months of dispute by Medivation, which is among the independent companies most desired by the biotechnology industry giants because it sells a leading drug for the treatment of prostate cancer, the Xtandi.
The drug generates about $ 2 billion in annual sales, and has the potential to more than double this value, according to analysts.
Pfizer sells drugs for breast and lung cancer and has sought to expand its line of products for cancer treatments.
The French Sanofi had made an unsolicited proposal to $ 52.50 per share in cash, which the Medivation was rejected in April, because I believe that the price was underestimated.