11th Jul 2016 10:05
LONDON (Alliance News) - UK drugmaker AstraZeneca PLC is weighing up a bid for US cancer drug developer Medivation Inc, The Sunday Times reported.
NASDAQ-listed Medivation, which opened its books to potential bidders including US-based Pfizer Inc and France's Sanofi SA last week, is still courting other possible suitors, according to sources close to the process.
The sources said AstraZeneca ran the rule over Medivation earlier this year and is thought to retain an interest in buying the company. Both companies declined to comment to The Sunday Times.
San Francisco-based Medivation is developing treatments for prostate cancer and breast cancer.
http://www.thetimes.co.uk/past-six-days/2016-07-10/business/astra-weighs-10bn-bid-for-prostate-cancer-drug-developer-m6nwn7q6j
By Sam Unsted; [email protected]; @SamUAtAlliance
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