How Much Could Medivation Sell For?

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How Much Could Medivation Sell For?

Medivation shares surged Thursday on rumors that potential buyers are seeking to acquire the company – some excerpts of coverage:

  • FierceBiotech: Step right up and place your bets on who might buy Medivation
    “AstraZeneca ($AZN), Roche ($RHHBY) and Sanofi ($SNY) are just three Big Pharma names being touted as a possible suitor for the struggling biotech Medivation ($MDVN)–but analysts warn it won’t come cheap, or easy. The San Francisco, CA-based biotech–which markets Astellas’ prostate cancer drug Xtandi in the U.S.–is currently under increasingly heavy political pressure for the $129,000 it charges for the medicine, which was first developed at the UCLA through taxpayer-supported research grants.”
    Full article

  • Bloomberg: Medivation May Not Come Cheap or Easy
    “The great biotech buyout lottery machine is spinning again. This week’s ping pong ball? Medivation. The San Francisco-based drugmaker’s share price has been in the dumps lately, along with the rest of biotech. The company got added salt in its wounds this week as Bernie Sanders joined a push for the U.S. government to use a never-before-invoked power to strip Medivation’s patent protection on prostate cancer drug Xtandi in order to lower the price. Big pharma’s M&A vultures are reportedly circling.”
    Full article

  • Wall Street Journal: Why Midsize Biotechs Have Scarcity Value
    “Years of deal-making have left high-quality biotechnology assets in fairly short supply. Given that, it is no surprise Medivation is reportedly attracting takeover interest. Shares of the cancer-drug developer surged 24% Thursday amid reports the company is hiring bankers to devise a takeover defense. The apparent interest in Medivation is a reflection of the lack of quality assets available for large pharmaceutical and biotech companies to buy.”
    Full article

  • FierceBiotech: With deal scouts knocking, Medivation hires JPMorgan to man the door
    “There’s no shortage of potential buyers. Big Pharmas such as Sanofi ($SNY) and AstraZeneca ($AZN) are on the hunt, and a deal with an immediate financial payoff could help them answer criticism from shareholders. AZ chief Pascal Soriot said earlier this year that he’s eyeing buys that are immediately accretive, rather than long-term pipeline plays. That’s one reason why Medivation is a perennial favorite on market watchers’ lists of buyout targets. With Xtandi on a path to blockbuster land, Medivation would give any buyer an immediate sales boost.”
    Full article

 

March 31st, 2016|
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