Medivation Inc (MDVN), Onyx Pharmaceuticals, Inc. (ONXX): Biotechs Take a Dive After a Standout Start to 2013

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Analysts think the drug can one day become a rival to Medivation’s recently approved prostate cancer pill Xtandi, however. J&J expects the prostate cancer market to grow over time, perhaps allowing both drugs to co-exist — a view supported by Citi analyst Yaron Weber, who expects Xtandi eventually to command 40% of the market. In all, the acquisition, even by a company as powerful as J&J, isn’t a deal-breaker for Medivation.

The article Biotechs Take a Dive After a Standout Start to 2013 originally appeared on Fool.com.

Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Johnson & Johnson.

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