Medivation shares soared higher on Wednesday when a report revealed that at least five pharmaceutical companies showed interest in acquiring the biopharma company.
According to sources that wish to remain anonymous, Merck was one of the companies to express interest. Other companies included Pfizer, Sanofi, Celgene and Gilead Sciences.
Shares of Medivation have increased more than 37% this year so far.
The company has declined to comment on the report.
Disclaimer: We have no position in Medivatin Inc. (NASDAQ: MDVN) and have not been compensated for this article.