After biosimilars launched in the US, the drugmakers are feeling the heat of the competition as biosimilars are cost effective as well as they provide the same safety profile and efficacy as the branded drugs.
Considering Pfizer Inc.'s (NYSE:PFE) deal worth $14 billion in order to acquire Medivation Inc (NASDAQ:MDVN), analyst Do Kim at BMO Capital believes the deal has increased the attractiveness of the other mid-cap companies in the bio-tech segment.
Pfizer Inc.'s biggest product, the vaccine Prevnar, fell short of sales estimates in the second quarter, though the drugmaker posted earnings that beat analysts' estimates thanks to strong sales of two of its newest drugs.
Medivation Inc. (NASDAQ:MDVN) has been downgraded at Credit Suisse following the deal with Pfizer Inc. (NYSE:PFE). Both the companies have come to a mutual consensus regarding the merger which is expected to be closed someway down the line as ...