Medivation Hopes Details On Talazoparib Will Inspire Heightened M&A Bidding
Now in confidential talks with Sanofi and other buyout suitors, Medivation hopes to increase offers on the basis of its PARP inhibitor's dual-mechanism promise.
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The PARP inhibitor, acquired with Medivation, will launch in a field where Pfizer already has commercial experience through its CDK4/6 inhibitor Ibrance.
"A somewhat challenging quarter," was how Sanofi CEO Olivier Brandicourt described the second three months of 2016, but analysts say there were no surprises in the downward trajectory of Sanofi's fortunes. There was also little news on Sanofi's pursuit of Medivation.
After two months of public, hostile back-and-forth, Sanofi agreed to confidentially discuss a potential acquisition of Medivation, putting the French pharma on equal footing with the biotech company's other suitors.