BioMarin Pharma (BMRN) Trades Higher After Pfizer (PFE) Wins Medivation (MDVN) (SNY)

August 22, 2016 7:15 AM EDT

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BioMarin Pharma (NASDAQ: BMRN) traded higher pre-market on Monday after Pfizer (NYSE: PFE) and Medivation (Nasdaq: MDVN) announced that they entered into a merger agreement.

Gains may be tied to speculation that Sanofi (NYSE: SNY), which had also been interested in Medivation, sees BioMarin as an alternative. The rumor was reported by Betaville in June.

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