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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.

Medivation Inc.'s investor call after the close of trading on July 6 proved to be an obvious attempt to encourage higher bids from a group of multiple suitors who are engaged in confidential talks to acquire the San Francisco-based cancer specialist, with one analyst saying the firm's booster efforts behind Phase III PARP inhibitor talazoparib could not have been more transparent.

Having passed on an upgraded purchase offer from Sanofi, Medivation announced on July 5 that the French pharma had dropped its hostile bid for the biotech and was one of several companies that had signed confidential agreements to negotiate terms for a potential buyout

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