Pfizer to acquire oncology specialist Medivation for $ 14 bn

Medivation’s portfolio includes Xtandi (enzalutamide), an androgen receptor inhibitor that blocks multiple steps in the androgen receptor signaling pathway within the tumour cell. Xtandi, the leading novel hormone therapy in the US, 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 commercialise jointly in the US. 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 tumours. 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.

“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. 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,” said Albert Bourla, group president, Pfizer Innovative Health. 

In addition, Medivation’s portfolio within prostate cancer and across diverse tumours 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,” added Bourla.

Cancer remains the second leading cause of death in the US 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 US. There are several parallels between breast and prostate cancer, including the incidence of prostate cancer in the US, which is similar to that of breast cancer with approximately 280,000 cases per year.