Medivation nets $10 million as prostate cancer drug moves toward approval

Medivation Inc. landed $10 million from partner Astellas Pharma Inc. after the Food and Drug Administration said the San Francisco drug developer's late-stage experimental prostate cancer treatment will get a priority review. The milestone payment to San Francisco-based Medivation (NASDAQ: MDVN) is based on the FDA's acceptance of the company's new drug application, Medivation said Tuesday.