Bernie Sanders Just Called Out Pfizer and Medivation on Twitter

After much speculation, Pfizer Inc. PFE announced today that it will acquire Medivation, Inc. MDVN in a deal worth about $14 billion. The acquisition is slated to close in the third or fourth quarter, and early predictions suggest that it could boost Pfizer's earnings by up to five cents in the first full year after finalization.

(Also Read: Pfizer to Buy Medivation for $14B)

Deals like this make a lot of people happy. Pfizer investors will be pleased that the company has boosted its cancer treatment portfolio and added earnings potential, while Medivation investors will be pleased with their big payday.

Nevertheless, big blockbuster mergers aren't loved by everyone. One of the biggest critics to emerge shortly after Pfizer and Medivation announced the deal was none other than former Democratic presidential candidate and current U.S. Senator from Vermont, Bernie Sanders.

The official Bernie Sanders Twitter account used the announcement as an opportunity to remind its followers about the current state of the pharmaceutical market:

 

Today Pfizer announced they are buying Xtandi, a prostate cancer drug that costs Americans $129,000 – 4 times more than in other countries.

— Bernie Sanders (@SenSanders) August 22, 2016

A life-saving drug does no good if the people who need it cannot afford that drug.

— Bernie Sanders (@SenSanders) August 22, 2016

My message to Pfizer and the entire pharmaceutical industry is clear: The era of charging unconscionable prices must end.

— Bernie Sanders (@SenSanders) August 22, 2016

Sanders specifically calls out Medivation's Xtandi drug, a prostate cancer treatment that is the clear prize for Pfizer in this deal. Xtandi generated global sales of about $2.2 billion in the last four quarters, and the drug is currently being evaluated in several studies to further expand its treatment possibilities.

Sanders' tweets remind us of the difficult debate that surrounds business ethics, especially in the medical sector. As investors, it's easy to forget that smart business moves can oftentimes make necessary treatments that much more difficult for sick patients to afford.

While Sanders is not necessarily criticizing today's merger, he is using the news as an opportunity to further advocate for reform in the pharmaceutical industry. Xtandi will now be in the hands of Pfizer, and Pfizer alone will be responsible for its pricing and availability.

If anything, Sanders is trying to show us the human element of a deal like this. As we look towards profits, revenues, and share prices, Sanders reminds us of the importance that these drugs have for the patients who depend on them.

If any reform is to come, it's in the best interest of everyone to ensure a pharmaceutical industry that can create value for its investors while continuing to provide the best care for its patients.

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