Deals
Celgene, Gilead Said to Join Suitors Mulling Medivation Bids
- Sanofi remains most serious bidder for cancer-therapy firm
- U.S. company rejected $9.3 billion offer from French drugmaker
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Biotechnology companies Celgene Corp. and Gilead Sciences Inc. are considering bids for Medivation Inc., which would pitch them against suitors led by French drugmaker Sanofi, according to people familiar with the matter.
Celgene and Gilead are talking to advisers as they evaluate whether to pursue a bid for the cancer-therapy company, the people said, asking not to be identified because the deliberations are private. No formal sales process is under way yet and Celgene and Gilead could decide against moving ahead with an offer, the people said.