by Summary:
Sign up to receive FirstFT by email here Pfizer is nearing a deal worth about bn to acquire California biotechnology company Medivation, beating a handful of its biggest rivals to win the auction for the sought-after cancer drugmaker. People close to the talks said a deal between Pfizer, the world’s second-largest drugmaker, and Medivation could be announced as early as Monday, though they cautioned that the two sides were in the process of finalising their agreement. San Francisco-based Medivation makes the world’s best-selling prostate cancer drug, Xtandi, which is forecast to generate .7bn in annual revenues by 2020. The deal would mark the return of Pfizer to big-ticket dealmaking after its attempt to buy Dublin-based Allergan for 0bn was thwarted by the Obama administration, which wanted to stop the company moving its headquarters to Ireland, with its low-tax regime. In the news ChemChina clears Syngenta takeover hurdle Shares in Syngenta jumped 12 per cent on Monday after a US committee scrutinising national security concerns approved ChemChina’s bn takeover of the Swiss agribusiness. Investors had seen US worries about national security in a strategically important sector as the main obstacle to a successful transaction — leading to Syngenta’s shares trading at a significant discount to the offer price.
Topics:
Bryan Harris considers the following as important:
This could be interesting, too:
Sign up to receive FirstFT by email here Pfizer is nearing a deal worth about bn to acquire California biotechnology company Medivation, beating a handful of its biggest rivals to win the auction for the sought-after cancer drugmaker. People close to the talks said a deal between Pfizer, the world’s second-largest drugmaker, and Medivation could be announced as early as Monday, though they cautioned that the two sides were in the process of finalising their agreement. San Francisco-based Medivation makes the world’s best-selling prostate cancer drug, Xtandi, which is forecast to generate .7bn in annual revenues by 2020. The deal would mark the return of Pfizer to big-ticket dealmaking after its attempt to buy Dublin-based Allergan for 0bn was thwarted by the Obama administration, which wanted to stop the company moving its headquarters to Ireland, with its low-tax regime. In the news ChemChina clears Syngenta takeover hurdle Shares in Syngenta jumped 12 per cent on Monday after a US committee scrutinising national security concerns approved ChemChina’s bn takeover of the Swiss agribusiness. Investors had seen US worries about national security in a strategically important sector as the main obstacle to a successful transaction — leading to Syngenta’s shares trading at a significant discount to the offer price.
Topics:
Bryan Harris considers the following as important:
This could be interesting, too:
Menzie Chinn writes CEA Chair Hassett: US recession ‘impossible’ by summer next year
Tyler Cowen writes Families and social networks don’t always help stroke victims
Tyler Cowen writes Saturday assorted links
Scott Sumner writes Do Donald Trump and Bryan Caplan have the same goal (for immigration)?
Sign up to receive FirstFT by...