Medivation Signals It’s Exploring Sale, Sources Say
Those familiar with the situation say the drug maker has opened its books to both Pfizer and Amgen, after slapping down Sanofi's takeover offer.
Exclusive: Medivation Succumbs To Pressure To Explore Sale - Sources
Medivation Inc will actively seek to sell itself after the US cancer drug maker rejected a $9.3 billion takeover offer from France's Sanofi SA, according to people familiar with the situation. The San Francisco-based company has agreed to open its books to both Pfizer Inc and Amgen Inc, those people said. The move comes less than two weeks after Sanofi made its approach public by publishing a letter to Medivation's chief executive David Hung that contained details of the offer. However, there is still no certainty that Sanofi's rivals will press ahead with bids for Medivation, the people cautioned. (Barbaglia, 5/9)
In other pharmaceutical news —
The San Diego Union-Tribune:
Study: Expanding Generic Drug Use Could Save Billions
Health insurers and patients could safely save many billions of dollars annually by swapping out a more expensive drug for a less expensive generic in the same class of drugs, according to a study published Monday. (Fikes, 5/9)