Biopharmaceutical company Medivation Inc. (MDVN) has spurned a buyout approach from Sanofi (SNY), Bloomberg News reported Tuesday, citing people familiar with the matter.

In after-hours trading, Medivation shares were up 9.3% to $49.99.

Reuters reported March 30 that Medivation was working with J.P. Morgan Chase & Co. on reviewing takeover approaches, but had no plans to sell itself.

Full story at http://www.bloomberg.com/news/articles/2016-04-12/medivation-said-to-have-rebuffed-takeover-approach-from-sanofi

Write to nymonitoring@dowjones.com

(END) Dow Jones Newswires

April 12, 2016 17:28 ET (21:28 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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