Law360 Quotes Partner David Evans on Pfizer’s acquisition of Medivation
Partner David Evans was quoted in the Law360 article “R&D Impact May Be Key In Scrutiny Of Pfizer Oncology Deal.” Experts say that U.S. pharmaceutical company Pfizer’s planned $14 billion acquisition of oncology biotech Medivation could sail through an antitrust review given their minimal product overlaps, unless regulators opt to heighten their focus on the deal’s potential impact on research and development within the cancer treatment space. The article notes that the $81.50-per-share deal, announced Monday, stands to give Pfizer Inc. access to California-based Medivation Inc.’s prostate cancer drug Xtandi as well as its “promising” pipeline of late-stage oncology treatments, according to a statement. Mr. Evans commented on innovation and the potential impact of Pfizer’s acquisition of Medivation. “They’ve not been the driver of a contested deal, and I doubt you would see the DOJ [or] FTC bringing a lawsuit based exclusively on innovation markets. You might see as part of a larger divestiture package the divestiture of some ‘innovation-oriented’ properties, whatever those are,” he said. “It’s not enough that Medivation is a small, scrappy innovator who might get lost in the folds of Pfizer,” Mr. Evans added. “They have to compete on some level with an identifiable product or functionality. ‘Medivation could invent the cure for cancer if they are left independent’ won’t work.”
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