Merck Enters Medivation Takeover Race

Aug 17, 2016

Reuters

Merck & Co is reportedly one of at least five pharmaceutical companies that has indicated interest in buying U.S. cancer drug company Medivation, according to Reuters sources.

The other four contenders include Sanofi, Pfizer, Celgene and Gilead Sciences.

Medivation, best known for its prostate cancer drug Xtandi, has already rejected two acquisition offers from Sanofi, the latest for $58 per share in cash and $3 in the form of a contingent value right if the California company’s cancer candidate talazoparib performs.

The Medivation buy would compliment Merck's existing cancer portfolio, which includes Keytruda, a leader in the growing immuno-oncology treatment area.

Read the Reuters exclusive