Medivation suitor AstraZeneca withdraws from auction; Celgene, Merck, Pfizer and Sanofi bidding - market report
AstraZeneca [LON:AZN], an FTSE-100 pharmaceuticals group, was said to have withdrawn from the auction of Kenilworth, New Jersey-based Medivation [NASDAQ:MDVN], The Daily Mail reported. The newspaper’s market report section did not cite a source for the rumour.
As reported by Reuters on Wednesday, 17 August, rival pharmaceutical companies Celgene [NASDAQ:CELG], Merck [NYSE:MRK], Pfizer [NYSE:PFE] Gilead [NASDAQ:GILD] and Sanofi [NYSE:SNY] are have indicated interest in bidding for Medivation.
Medivation’s share price closed USD 0.71 up at USD 67.19 in New York on Thursday, valuing the company at USD 11.14bn.
Daily Mail, previously reported intelligence