Pfizer Gets U.S. Regulatory Approval For Medivation Takeover

(RTTNews) - Pfizer Inc. (PFE) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended has expired with respect to Pfizer's pending acquisition of Medivation, Inc. (MDVN).

Pfizer now expects to complete the acquisition in the Third-Quarter 2016.

The closing of the tender offer remains subject to other customary closing conditions, including the tender of a majority of the outstanding shares of Medivation common stock.

Last month, Drug major Pfizer announced that it agreed to acquire Medivation, Inc. , the developer of blockbuster prostate-cancer drug Xtandi, for $81.50 a share in cash, for a total enterprise value of approximately $14 billion.