California-Based Rx Drug Companies Reach Nearly $500M Deal on Cancer Drug
San Francisco-based drug developer Medivation has entered a nearly $570 million deal to license a cancer-fighting drug acquired by San Rafael-based BioMarin Pharmaceutical in 2010. Under the deal, Medivation will pay $410 million to license the late-stage cancer drug, called talazoparib, worldwide and will pay an additional $160 million if the drug reaches certain milestones.
- "Two Bay Area Drug Companies Cut Half-Billion-Dollar Cancer Drug Deal" (Leuty, "BiotechSF," San Francisco Business Times, 8/24).