Master dealmaker? Medivation CEO David Hung’s overzealous PARP assault falls flat
Medivation doesn’t look any further ahead now that the CEO is publicly defending the asset like a dog defends a bone
Back when David Hung was building Medivation as a pipeline company, he persuaded Pfizer to fork over $225 million as an upfront to partner on dimebon, a Russian antihistamine that had shown some activity for Alzheimer’s in early studies. Dimebon went on to become an embarrassing fiasco, failing two expensive Phase III studies. And I can recall Hung discounting the significance of the program to his company when he was between late-stage flops. After all, he told me, Pfizer had paid for that work already.
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