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Published on Aug 22, 2016
A
potential blockbuster drug deal is reportedly in the works. Several
reports out today say Pfizer (PFE) is close to buying cancer drug
company Medivation (MDVN) for $14 billion. It would be an all-cash deal.
By acquiring Medivation, Pfizer would gain a blockbuster prostate
cancer treatment. The Federal Reserve is in focus this week. Investors
are already talking about Chair's Janet Yellen speech Friday at Jackson
Hole, Wyoming. Wall Street is hoping Yellen will provide some clarity on
the future of interest rates. Valeant (VRX) is back in the news. The
Wall Street Journal says it's hired Paul Herendeen as its new Chief
financial officer. Herendeen was previously an executive with animal
health company Zoetis (ZTS). At Zoetis, he navigated the company through
cost cuts, acquisitions and a brush with activist investor Bill Ackman.
The Chicago Fed Activity index is reported. The Pro Farmer crop tour
through the midwest begins today.
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