• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI

2

Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that

3

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

1

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI

2

Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that

3

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Finance

Here’s Why Shares of This Hot Biopharma Are Jumping

Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
April 13, 2016, 11:10 AM ET
T-cells attacking cancer cell, artwork
T-cells attacking cancer cell, artworkGraphic by Tim Vernon—Science Photo Libra via Getty Images

Shares of Medivation (MDVN) rose nearly 6% in morning trading Wednesday after news broke that the San Francisco-based biopharmaceutical had rebuffed a takeover attempt from industry giant Sanofi.

Medivation, which Democratic presidential candidate Bernie Sanders has accused of inflating drug prices, is reportedly seeking a higher takeover offer. Other suitors have also shown interest in the cancer treatment company, Bloomberg reported Tuesday, citing people familiar with the matter.

But Sanofi might not have played its full hand yet. The company is reportedly consulting with advisors to potentially make a hostile bid, while Medivation has defense adviser J.P Morgan to fend of its suitor.

For Sanofi, acquiring Medivation would give the French pharma giant a chance to galvanize two years worth of stagnating profits. In November, Sanofi revealed a new strategy aiming to snap up “money-spinning” drugs, a label that includes rare disease treatments.

Medivation is also developing immuno-oncology treatment pidilizumab, which harnesses the body’s own immune system to attack blood cancer cells. Immuno-oncology has become one of the most sought after ideas since it began showing promising results just about three years ago.

After hearing about takeover rumors back in late March, Credit Suisse pointed toward other companies that could benefit from merging with or acquiring Medivation: Roche Holding and AstraZeneca (AZNCF). Both companies also happen to be expanding their portfolios and developing immuno-oncology treatments.

 

Medivation also recently made headlines when Sen. Bernie Sanders and 11 other Democratic lawmakers made the company a target in their crusade against drug price gouging practices in late March. The team published a letter requesting a public hearing into the $129,000 price tag on Medivation’s prostate cancer drug, Xtandi. The drug, sold in conjunction with Japanese firm Astellas Pharma, is priced in the U.S. at roughly four times its cost in Canada, and three times its cost in Japan and Sweden.

Both Medivation and Sanofi declined to comment to Fortune.

About the Author
Lucinda Shen
By Lucinda Shen
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

Oil markets could be a month away from the moment of truth. Brace for a ‘non-linear’ price spike and panic buying, analysts warn
EnergyOil
Oil markets could be a month away from the moment of truth. Brace for a ‘non-linear’ price spike and panic buying, analysts warn
By Jason MaMay 16, 2026
4 hours ago
lirr
EconomyRailroads
Spring Hamptons traffic nightmare as Long Island Rail Road workers go on strike
By Philip Marcelo, Nick Lichtenberg and The Associated PressMay 16, 2026
9 hours ago
delivery
Retailecommerce
Walmart’s upper hand over Amazon in the $1 trillion e-commerce race: 90% of Americans live within 10 miles of a superstore
By Anne D'Innocenzio and The Associated PressMay 16, 2026
9 hours ago
milei
North AmericaInflation
Argentinians wage inflation strike on red meat sending beef consumption to 20-year low
By Clara Preve and The Associated PressMay 16, 2026
9 hours ago
tom
SuccessEntrepreneurs
Top Chef’s Tom Colicchio got a 15x return on a tech company most Americans have never heard of. He thinks his own industry is broken
By Nick LichtenbergMay 16, 2026
12 hours ago
bhaskar
Economydisruption
The prophet of the ‘Wired Belt’ says capitalism is finally eating itself
By Bhaskar ChakravortiMay 16, 2026
13 hours ago

Most Popular

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
AI
Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
By Jake AngeloMay 16, 2026
11 hours ago
Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
Success
Despite having a $165 million net worth, Scarlett Johansson says work-life balance doesn’t exist—and the first step to success is admitting that
By Preston ForeMay 13, 2026
3 days ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
4 days ago
Meet the 20-year-old CEO who launched a company in high school to solve Gen Z's entry-level job crisis
Future of Work
Meet the 20-year-old CEO who launched a company in high school to solve Gen Z's entry-level job crisis
By Jake AngeloMay 16, 2026
15 hours ago
Current price of oil as of May 15, 2026
Personal Finance
Current price of oil as of May 15, 2026
By Joseph HostetlerMay 15, 2026
1 day ago
‘You’re not a hero, you’re a liability’: Shark Tank’s Kevin O’Leary warns Gen Z founders to stop glorifying hustle culture
Future of Work
‘You’re not a hero, you’re a liability’: Shark Tank’s Kevin O’Leary warns Gen Z founders to stop glorifying hustle culture
By Jacqueline MunisMay 16, 2026
11 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.