.. _Medivation: Medivation =========== Medivation is an American biopharmaceutical giant which is based in San Francisco. The company is focused on rapidly developing drugs which help in treating serious diseases with limited treatment possibilities. The corporation is enlisted on NASDAQ stock exchange under the symbol MDVN. It has production facilities based in United States along with many Research and Development bases too. David Hung serves the company as its Chairman and CEO and also leads its R and D department. As of 2015, it is one of the most commercially successful new companies to emerge in the United States. The corporation is just a year over a decade old and already has become the most sought after pharmaceutical player in the North American continent. It was founded by David Hung in December 2004 as a result of the acquisition of Medivation Neurology, Inc. Since then, it has collaborated with many other companies from the same industry in order to tighten its grip on the American as well as international markets and also to enhance the workings of its R and D department. Recently it was in the news for collaborating with the European pharmaceutical giant Astellas when the U.S. Food and Drug Administration (FDA) approved the result of its joint venture that produced XTANDI (enzalutamide) capsules. This was a major breakthrough for both the entities as is known to be highly successful in treating patients with metastatic castration-resistant prostate cancer. The procedure of the drug is basically applied in post-chemotherapy of the patients. Product Trialsmedivation1The development, manufacturing and commercialization of XTANDI will be done in collaboration with Astellas Pharma Inc. in the future, while License and supply agreement has been done in collaboration with CureTech for development, manufacturing and commercialization of its biologic molecules. Medivation’s clinical trials as far as prostate cancer is concerned include STRIVE, which currently stands in Phase II clinical trial. AFFIRM and PREVAIL have already completed the enrollment for Phase III clinical trial. PROSPER and EMBARK are in an ongoing enrollment for the Phase III clinical trial. TERRAIN has done so too for the Phase II clinical trial. Apart from these, AR+, ER+ or PgR+, HER2 Normal and TNBC; and HER2 Amplified and AR+ are part of its breast cancer related Phase II clinical trials.Upheavals & AchievementsAbout four years back the company was involved in a lawsuit that was filed against it, when its stocks dropped by a staggering 67% in just one day on its total number of 45 million shares. Izard Nobel LLP was responsible for initiating the case and it carried on for a total four years ending with the decision going in Medivation’s favor and the company getting cleared of all charges. Medivation has managed to win back its reputation since and has managed to establish a firm hold on the market too. Monday, August 22, 2016 - 6:45am EDT Pfizer Inc. (NYSE:PFE) and Medivation, Inc. (NASDAQ:MDVN) today announced that they have entered into a definitive merger agreement under which Pfizer will acquire Medivation, a biopharmaceutical company focused on developing and commercializing small molecules for oncology, for $81.50 a share in cash for a total enterprise value of approximately $14 billion. The Boards of Directors of both companies have unanimously approved the merger, which is expected to be immediately accretive to Pfizer’s Adjusted Diluted EPS upon closing, approximately $0.05 accretive in the first full year after close with additional accretion and growth anticipated thereafter. Pfizer does not expect the transaction to impact its current 2016 financial guidance. “The proposed acquisition of Medivation is expected to immediately accelerate revenue growth and drive overall earnings growth potential for Pfizer,” said Ian Read, chairman and chief executive officer, Pfizer. “The addition of Medivation will strengthen Pfizer’s Innovative Health business and accelerate its pathway to a leadership position in oncology, one of our key focus areas, which we believe will drive greater growth and scale of that business over the long-term. This transaction is another example of how we are effectively deploying our capital to generate attractive returns and create shareholder value.” 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 United States today and generated approximately $2.2 billion in worldwide net sales over the past four quarters, as recorded by Astellas Pharma Inc., with whom Medivation entered an agreement in 2009 to develop XTANDI globally and commercialize jointly in the U.S. Since its approval for advanced metastatic prostate cancer by the U.S. Food and Drug Administration in 2012, XTANDI has treated 64,000 men to date in the U.S. alone. Medivation and Astellas have built a robust development program for XTANDI, including two Phase 3 studies in non-metastatic prostate cancer and another Phase 3 study in hormone-sensitive prostate cancer. It is also being further developed in Phase 2 studies for the potential treatment of advanced breast cancer and hepatocellular carcinoma. In addition, Medivation has a promising, wholly-owned, late-stage oncology pipeline, which includes two development-stage oncology assets, talazoparib and pidilizumab. Talazoparib, currently in a Phase 3 study for the treatment of BRCA-mutated breast cancer, has the potential to be a highly potent PARP inhibitor and could be efficacious across several additional tumors. Pidilizumab is an immuno-oncology (IO) asset being developed for diffuse large B-cell lymphoma and other hematologic malignancies and has the potential to be combined with IO therapies in Pfizer’s portfolio. “We believe the combination with Pfizer is the right next step in our growth trajectory and is a testament to the passion and dedication by which the Medivation team has delivered on our mission to profoundly transform patients’ lives through medically innovative therapies,” said David Hung, M.D., founder, president and CEO of Medivation. “This compelling transaction will deliver significant and immediate value to our stockholders and provides new opportunities for our employees as part of a larger company. We believe that Pfizer is the ideal partner to extend the reach of our blockbuster XTANDI franchise and take our promising, late-stage assets – talazoparib and pidiluzimab – to their next stages of development so that they can be made available to patients as quickly as possible.” “The proposed acquisition of Medivation will build upon Pfizer’s success with our IBRANCE® (palbociclib) launch in HR+/HER2- metastatic breast cancer and with our strong immuno-oncology portfolio, and will transform Pfizer into a leading oncology company,” said Albert Bourla, group president, Pfizer Innovative Health. “IBRANCE and XTANDI are anchor brands in breast and prostate cancer respectively, giving Pfizer leadership in two hormone-driven cancers. Similar to IBRANCE in the breast cancer setting, XTANDI is being explored for its potential to move from metastatic prostate cancer to treat earlier stages of non-metastatic prostate cancer. In addition, Medivation’s portfolio within prostate cancer and across diverse tumors will complement Pfizer’s broad IO portfolio. Finally, Medivation adds commercial scale to better compete with other top tier oncology companies in advance of the potential emergence of Pfizer’s IO pipeline expected in the next few years. Together, we believe Pfizer and Medivation can bring the full force of our combined research and resources to combat two of the most common cancers, as well as speed cures and make accessible breakthrough medicines to patients, redefining life with cancer.” Cancer remains the second leading cause of death in the U.S. and a “Top 10” killer worldwide. According to the American Cancer Society, breast cancer and prostate cancer are among the top three cancers by annual incidence in the U.S. There are several parallels between breast and prostate cancer, including the incidence of prostate cancer in the U.S., which is similar to that of breast cancer with approximately 280,000 cases per year. Pfizer expects to finance the transaction with existing cash. Under the terms of the merger agreement, a subsidiary of Pfizer will commence a cash tender offer to purchase all of the outstanding shares of Medivation common stock for $81.50 per share, net to the seller in cash, without interest, subject to any required withholding of taxes. The closing of the tender offer is subject to customary closing conditions, including U.S. antitrust clearance and the tender of a majority of the outstanding shares of Medivation common stock. The merger agreement contemplates that Pfizer will acquire any shares of Medivation that are not tendered into the offer through a second-step merger, which will be completed promptly following the closing of the tender offer. Pfizer expects to complete the acquisition in the Third- or Fourth-Quarter 2016. Pfizer’s financial advisors for the transaction were Guggenheim Securities and Centerview Partners, with Ropes & Gray LLP acting as its legal advisor. J.P. Morgan Securities and Evercore served as Medivation’s financial advisors, while Cooley LLP and Wachtell, Lipton, Rosen & Katz served as its legal advisors.