Pfizer to pay $14 billion for Medivation, whose drug Xtandi was discovered by UCLA

Through the deal, Pfizer gains a drug that has generated about $2.2 billion in net sales worldwide over the last year.

Pharmaceutical giant Pfizer Inc. is paying $14 billion to buy Medivation Inc., a San Francisco biotech company that sells a high-priced prostate cancer medication discovered by UCLA.

A year’s worth of the drug, Xtandi, sells for about $129,000, and the medicine has generated about $2.2 billion in net sales worldwide over the last year, the companies said Monday in announcing the deal…

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UC Startups Generate $20B in Economic Activity for California

The top five fields for the creation of UCLA-affiliated startups were medical therapeutics, medical diagnostics, medical devices, research tools, and software and services.

A study by the Bay Area Council Economic Institute of the rapid formation of startups at UC campuses found that universitywide research has led to hundreds of new companies, employing tens of thousands of workers and adding $20 billion to the California economy.

The study, which analyzed startup formation at each campus and across the UC system, found that the pace and number of new companies started by UC graduates and faculty has accelerated over the past 15 years.  Continue reading “UC Startups Generate $20B in Economic Activity for California”