Medivation Agrees to Sell to Pfizer for $14 Billion

San Francisco – August 23, 2016 – Cooley is advising biopharmaceutical company Medivation on its agreement to sell to Pfizer for approximately $14 billion. The transaction is expected to close in the third or fourth quarter. Prior to the announced agreement, Cooley also advised Medivation as the target of a hostile takeover bid by Sanofi.

Medivation's portfolio includes XTANDI® (enzalutamide), an androgen receptor inhibitor that blocks multiple steps in the androgen receptor signaling pathway within the tumor cell. XTANDI is the leading novel hormone therapy in the US, generating approximately $2.2 billion in worldwide net sales over the past year. In addition, Medivation has a promising, wholly-owned, late-stage oncology pipeline, which includes two development-stage oncology assets.

Medivation has been a Cooley client since 2008.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.

Cooley has 900+ lawyers across 13 offices in the United States, China and Europe.

Press Coverage

"Pfizer to Buy Cancer Drug Maker in $14 Billion Deal," The New York Times: DealBook

"Pfizer Boosts Cancer Drug Pipeline with $14 Billion Medivation Deal," Reuters

"Pfizer to Buy Cancer Drug Firm Medivation for $14 Billion," TIME

"Pfizer is Buying Cancer Drug Maker Medivation for $14 Billion," Fortune

"News Roundup," Bloomberg BNA

"Pfizer to Buy Medivation for $14 Billion in Cash," CNBC

"Medivation Scores Premium Price in Sale to Pfizer," The Deal

"R&D Impact May be Key in Scrutiny of Pfizer Oncology Deal," Law360

"Four Firms Guide Pfizer's Latest Big Drug Buy," The American Lawyer

"Cooley, Ropes and Wachtell Lead as Pfizer Recovers from Allergan Fall-Out," The Lawyer

"Pfizer Wins Over Medivation with $14B Buyout," Law360

"2 Law Firms Dominate M&A in Languid August," Law360

"Four Bidders Battled Pfizer for Medivation," The Deal

Related Contacts
Jamie Leigh  Partner San Francisco
Kenneth Guernsey  Partner San Francisco, Palo Alto
Barbara Kosacz  Senior Counsel Palo Alto
Marty Schenker  Partner San Francisco
Patrick Gibbs  Partner Palo Alto
Jacqueline Grise  Partner Washington, DC
Barbara Mirza  Partner Los Angeles, Palo Alto
Thomas Welk  Senior Counsel San Diego
Natasha Leskovsek  Of Counsel Washington, DC
Brett White  Of Counsel Palo Alto
Susan Cooper Philpot  Retired Partner San Francisco
Sarah Lightdale  Partner New York
Cydney Posner  Special Counsel San Francisco
Ben Beerle  Partner San Francisco
Anne Lieberman  Partner Los Angeles
Tanisha A. James  Partner New York, Washington, DC