medivation

Medivation maybe mulling sale as bidding race heats up – Reports

pharmafile | May 10, 2016 | News story | Manufacturing and Production, Research and Development, Sales and Marketing Amgen, Deals, M&A, MA, Medivation, Pfizer, Sanofi 

Cancer drugmaker Medivation (Nasdaq: MDVN) is evaluating a potential sale following the recent string of offers from big pharma firms, according to reports.

The reports suggest, the company has signed non-disclosure agreements granting US pharma giant Pfizer (NYSE: PFE) and Amgen (Nasdaq: AMGN) access to confidential information on Medivation.

Last week, French drugmaker Sanofi (Euronext: SAN) made an unsolicited bid for Medivation offering $52.50 per share or $9.3 billion in an all cash deal after the US drugmaker spurned its proposal for talks. 

Advertisement

Sanofi, looking to strengthen its prostate cancer portfolio, made the initial offer early April. The company followed up the offer for talks with a formal proposal on April 15.     

Pfizer and Amgen reportedly joined the bidding race in the following days. 

Anjali Shukla

Related Content

Sanofi and Regeneron’s Dupixent receives CHMP recommendation for chronic spontaneous urticaria

Sanofi and Regeneron have received a positive opinion from the European Medicines Agency’s (EMA) Committee …

Sanofi’s treatment granted orphan designation for rare chronic inflammatory condition

The European Medicines Agency has granted orphan designation to Sanofi’s investigational Bruton’s tyrosine kinase (BTK) …

sanofi

Sanofi completes acquisition of Vigil Neuroscience to early neurology pipeline

Sanofi has announced that it has finalised its acquisition of Vigil Neuroscience, a US-based biotechnology …

The Gateway to Local Adoption Series

Latest content