Will Medivation Fetch More Than $12.5 Billion? It Rejected An Earlier Sanofi $10.2 Billion Bid

It is certainly becoming a go-go market for M&A -- in the next gen immuno oncology space, in particular. Medivation's candidates have impressed, as of late -- in trials.

Just look at the pedigree of these names -- orbiting the "nucleus" of Medivation (in 1950s style atomic time, no less!) -- at least according to MSM published rumors.

Here is the Reuters bit on it overnight, but my guess is that something well north of $12 billion will be needed to win the bidding:

. . . .Merck & Co Inc is one of at least five pharmaceutical companies that submitted indications of interest in buying U.S. cancer drug company Medivation Inc earlier this month, according to people familiar with the matter. . . .

Sanofi SA, Pfizer Inc, Celgene Corp and Gilead Sciences Inc also put forward expressions of interest, the sources said. Medivation will have further conversations with potential buyers and ask them to firm up their offers, some of the sources said. . . .

Medivation, best known for its prostate cancer drug Xtandi, said in July it had agreed to share confidential information with potential buyers after France's Sanofi agreed to drop a campaign to oust Medivation's board of directors. . . .

Frothy markets make for big premiums -- but if any sector supports such valuations, it is the oncology wing of the bioscience sector. Onward, for some later-evening cool outdoors symphony listening, then. . . grinning -- as ever, as Mozart, Schubert and Mendelssohn are on tap. . . .