Strong Prostate Cancer Drug Sales Will Help Medivation Expand Pipeline

SAN FRANCISCO (TheStreet) -- The prostate cancer drug Xtandi, developed by Medivation's  and sold through a marketing partnership with Astellas, continues post better-than-expected sales numbers. Late last week, Astellas reported third-quarter Xtandi revenue of $181 million in the U.S, topping consensus estimates. In addition, Astellas raised their 2014 guidance for Xtandi sales to between $600M-640 million, which implies Medivation revenues of between $300-320 million, an 11% increase from th...