Wedbush Cuts Price Target on BioMarin Pharma (BMRN) Following Announced Sale of Talazoparib to Medivation (MDVN)
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Medivation to Expand Global Oncology Franchise With the Acquisition of All Worldwide Rights to Talazoparib (BMN 673), a Potent PARP Inhibitor, From BioMarin
August 24, 2015 7:00 AM EDTTalazoparib is a Highly-Potent PARP Inhibitor in Phase 3 Development for the Treatment of BRCA-Mutated Breast Cancer Clinical Activity Observed in Multiple Oncology Opportunities with Potential for monotherapy or Combination therapy with Standard of Care Oncology Treatments Transaction Price of $410 Million Upfront, Up to $160 Million in Milestones and Mid-Single Digit Royalties
SAN FRANCISCO and SAN RAFAEL, Calif., Aug. 24, 2015 (GLOBE NEWSWIRE) -- Medivation, Inc. (Nasdaq: MDVN) and BioMarin Pharmaceutical Inc. (Nasdaq: BMRN) announced today that they have entered into an asset purchase agreement under... More
Medivation to Expand Global Oncology Franchise With the Acquisition of All Worldwide Rights to Talazoparib (BMN 673), a Potent PARP Inhibitor, From BioMarin
August 24, 2015 7:00 AM EDTSAN FRANCISCO, CA and SAN RAFAEL, CA -- (Marketwired) -- 08/24/15 -- Medivation, Inc. (NASDAQ: MDVN) and BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) announced today that they have entered into an asset purchase agreement under which Medivation will acquire all worldwide rights to talazoparib (formerly referred to as BMN 673), a highly-potent, orally-available poly ADP ribose polymerase (PARP) inhibitor currently in a Phase 3 study for the treatment of patients with deleterious germline BRCA 1 or BRCA 2 mutations and locally advanced and/or metastatic breast cancer. Under the agreement, Medivation will be responsible for all research,... More
