Medivation urges shareholders to fight off Sanofi takeover

24 June 2016

USA-based Medivation (Nasdaq: MDVN) has written to its shareholders, urging them to reject an attempted takeover by French pharma major Sanofi (Euronext: SAN).

Medivation has again stressed that Sanofi’s $9.3 billion bid undervalues the company and its leading oncology franchise.

That includes the already marketed drug Xtandi (enzalutamide) which is already generating sales of around $2 billion a year and two assets in clinical development - talazoparib for breast cancer and pidilizumab for blood cancers.

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