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Fly News Breaks for August 23, 2016
MDVN, PFE
Aug 23, 2016 | 07:11 EDT
After Pfizer (PFE) agreed to buy Medivation (MDVN), Piper Jaffray analyst Richard Purkiss says that Pfizer has obtained Xtandi, "a blockbuster prostate cancer treatment," and "a close-to-market and late-stage pipeline." The analyst thinks that Xtandi's expansion to use in adjuvant prostate cancer could increase its sales by 65%-70%. He keeps a $54 price target and Overweight rating on Pfizer.
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