Chris Hughes, Columnist

Sanofi's Hostility Backfires

The drugmaker's early tactical blunders cost it the deal.

August 22, 2016 at 10:58 AM UTC

Chris Hughes is a Bloomberg Opinion columnist covering deals. Previously, he worked for Reuters Breakingviews, the Financial Times and the Independent newspaper.

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Sanofi is paying a high price for its early tactical blunders in the pursuit of U.S. oncology specialist Medivation.

The French drugs group has been beaten by U.S. competitor Pfizer, which on Monday made what looks like a knockout $14 billion bid for Medivation.