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Pfizer Pays $14B To Buy Cancer Drug Maker Medivation

On Monday, Pfizer (PFE) spent $14 billion to acquire prostate cancer drug maker Medivation (MDVN). The main drug that Medivation has, is a prostate cancer drug known as Xtandi. Why would Pfizer pay $14 billion to acquire Medivation? The reason is that Xtandi has already generated at least $2.2 billion in sales. When the acquisition is complete, Pfizer expects to be able to boost its earnings per share immediately.

The final deal of $14 billion...