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. 

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 share results from phase 3 trial for Dupixent as COPD treatment

Sanofi and Regeneron have announced results from the second investigational phase 3 NOTUS trial for …

Sanofi shares new data for long-term efficacy of Nexviazyme for Pompe disease treatment

Sanofi has shared new data for the long-term efficacy of Nexviazyme (avalglucosidease alfa) for the …

Janssen and Sanofi enter agreement for potential vaccine programme

Janssen Pharmaceuticals, a Johnson & Johnson company, has announced a development and commercialisation agreement with …

Latest content