Remember when Snapchat turned down Facebook’s $3B offer? Everyone thought it was crazy. Well, maybe not everyone. Apparently Medivation was taking notes. Their rejection of Sanofi’s $9.3B proposal now has it cashing in a fat $14B check from Pfizer. Sure $11 or $12B may have done the job, but $14B in cash ensured there wouldn’t be any counter-offers. What was at stake? Medivation’s promising oncology pipeline which includes its (very successful) prostate cancer drug, XTANDI, which generated ~$2.2B over the past four quarters and has the potential to more than double that. Maybe the lashing Pfizer received that caused the Allergan break-up has made it want to start shopping local, a.k.a. make the US Treasury Dept. happy again.