Medivation to team up with Pfizer on Alzheimer’s drug, shares jump
Biopharmaceutical company Medivation, Inc. (Nasdaq:MDVN) said this morning that it will collaborate with drug juggernaut Pfizer Inc. (NYSE: PFE) to develop and commercialize Dimebon, Medivation’s investigational drug for treatment of Alzheimer’s disease and Huntington’s disease. Dimebon is currently being evaluated internationally in a confirmatory Phase III trial in patients with mild-to-moderate Alzheimer’s disease.
Shares leaped 29%, or $7.47, to $33.50 in pre-market trading on heightened volume. For detailed price information and news stories on Medivation, click MDVN.
