Using money honey instead of threats, Sanofi wins a seat at the bargaining table for Medivation buyout
It took a sweeter bid and a CVR for its experimental therapy talazoparib, but Sanofi $SNY can now take a seat at the bargaining table with Medivation $MDVN in pursuit of one of this year’s biggest biotech buyouts.
Sanofi announced this afternoon that it pushed its bid to $58.00 a share – up from $52.50 – and added a $3.00 CVR for sales performance on talazoparib, Medivation’s blockbuster bid for PARP inhibitor glory. That’s a potential $11 billion payout, up from the initial $9.3 billion offer.
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