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AZ explore potential takeover of Medivation

AstraZeneca

The Sunday Times reports that AstraZeneca has held “internal talks” regarding a potential bid for Medivation, but the company has not yet made a formal proposal, reported the magazine and citing unnamed sources.

According to the newspaper, AstraZeneca has been tracking Medivation for the past six months, while a senior healthcare banker is quoted as saying “they are looking very closely at an offer.” AstraZeneca and Medivation declined to comment on the speculation.

Medivation markets the cancer therapy Xtandi (enzalutamide), which is approved in the US and Europe for the treatment of metastatic castration-resistant prostate cancer, in collaboration with Astellas. Last month, several US lawmakers asked the National Institutes of Health and the Department of Health and Human Services to intervene to lower the price of the prostate cancer therapy, which costs $129 000 for a course of treatment.