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Why Pfizer's Latest Deal Could Send Its Shares Soaring

Successfully investing in drug stocks is all about what's in the pipeline, and Pfizer (PFE) bolstered its pipeline in a big way Monday, when it announced that it would buy Medivation (MDVN) in a $14-billion deal.

Pfizer, the world's No. 3 drug maker by market capitalization, reportedly fended off a deep-pocketed field of potential suitors, including Celgene, Merck & Co. and Gilead Sciences.

Adding Medivation gives Pfizer three promising drugs in the oncology market, which is expected to grow 7.5% to...