Pfizer Acquires Oncology Drug Developer Medivation
Ropes & Gray represented Pfizer Inc. in connection with its proposed acquisition of Medivation, Inc. a biopharmaceutical company focused on developing and commercializing small molecules for oncology. Pfizer will commence a cash tender offer to purchase all of the outstanding shares of Medivation common stock for $81.50 a share in cash for a total enterprise value of approximately $14 billion. 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.
Ropes & Gray previously represented Pfizer on its agreement to acquire Hospira in 2015.
The Ropes & Gray team advising Pfizer included mergers & acquisitions partner Christopher Comeau, securities & public companies partner Paul Kinsella, tax partner David Saltzman, benefits partners Renata Ferrari and Jenny Rikoski, business & securities litigation partner Peter Welsh, government enforcement partner Alexandre Rene, real estate partner Peter Alpert, and securities & public companies associates Tara Fisher and Benjamin DiCamillo.