Medivation to Sanofi (in translation): You don't know beans about cancer drug development(!)
At this stage in a hostile M&A game, the best defense lies in a great offense. And Medivation is out to be as offensive as possible. To be specific, Medivation’s executive team doesn’t think highly of Sanofi, its bid for the company, or its ability to evaluate and develop new cancer drugs.
In a letter to shareholders, shared widely with the business press, Medivation compared and contrasted Sanofi’s position, ridiculing its 50% premium offer (that came after the Great Bear Market hit everyone).
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