Support our non-partisan non-profit newsroom 💜 Donate now

Big Pharma’s competition to buy new cancer drugs

Jed Kim Aug 22, 2016
HTML EMBED:
COPY

Big Pharma’s competition to buy new cancer drugs

Jed Kim Aug 22, 2016
HTML EMBED:
COPY

Pfizer announced on Monday that it will pay $14 billion to acquire Medivation, the company behind the prostate cancer drug Xtandi. The purchase will help make Pfizer a stronger presence in the lucrative cancer drug business, with the possibility of expanding Xtandi to breast cancer treatment.

It’s the most recent in a push by large pharmaceutical companies to acquire smaller innovative companies. The high price is partly due to Xtandi already competing strongly in the market. Critics of the strategy say it can lead to higher prices for pharmaceuticals for insurers and their customers.

Click the above link to listen to the full story.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.