Sanofi launches $9.3 billion fight for U.S. cancer firm Medivation

French multinational pharmaceutical company SANOFI logo seen at their headquater in ParisBy Ben Hirschler and Leigh Thomas LONDON/PARIS (Reuters) – French drugmaker Sanofi went public with a $ 9.3 billion offer to buy Medivation on Thursday, setting up what could be a lengthy takeover fight after the U.S. cancer firm rebuffed its approaches. The decision to target Medivation marks a return to the biotech takeover trail for Sanofi, which is looking to new cancer treatments to bolster its portfolio and help offset declining sales of mainstay diabetes drug Lantus. Sanofi's non-binding proposal is to buy Medivation for $ 52.50 per share in cash, representing a 50 percent premium over the San Francisco-based firm's two-month volume-weighted average share price prior to takeover rumors.



Medications/Drugs News Headlines – Yahoo! News

Pharmaceutical Stocks

[stock-ticker]

© 2018 Drugs News All rights reserved.       Privacy Policy       Contact Us