Medivation Up As Triple M&A Interest Rumor Circulates

Medivation Inc (NASDAQ: MDVN) is up roughly 2 percent on Tuesday, trading at $37.68.

According to the UK's financial outlet This Is Money, Medivation may be courting suitors.

Among the names that have begun circulating as interested parties are AstraZeneca plc (ADR) (NYSE: AZN), Sanofi SA (ADR) (NYSE: SNY) and Roche Holding Ltd. (ADR) (OTC: RHHBY).

This story was highlighted by a Deutsche Bank analyst in a morning analysis, which may explain its distribution.

Appeal Of Medivation

Medivation, a U.S. cancer drug biopharmaceutical company, is an logical target for M&A chatter, as it focuses on developing and commercializing drugs for serious diseases that typically have little or no known treatment options.

At this time, Medivation's XTANDI (enzalutamide) has approval in Europe and the United States, in addition to various other countries across the globe. This drug is approved to treat patients with metastatic castration-resistant prostate cancer. Additionally, the drug has been approved for treatment of castration-resistant prostate cancer in Japan.

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Investigative studies have begun in general prostate cancer and breast cancer, in collaboration with Astellas.

Another claim to fame for Medivation is its exclusive worldwide licensing rights to drug pidilizumab, which is an immune modulatory, "for all potential indications from CureTech, Ltd."