Medivation Sends Letter to Stockholders to Set the Record Straight on Sanofi’s Misleading Claims
June 23 2016 - 5:50PM
Business Wire
Reiterates Call for Stockholders to Reject
Sanofi's Attempts to Force Through Its Grossly Inadequate
Proposal
Medivation, Inc. (NASDAQ:MDVN) today sent a letter to
stockholders providing detailed information to correct the
misleading claims Sanofi has made as part of its coercive efforts
to acquire Medivation at an opportunistic, low price that
substantially undervalues Medivation. In an attempt to facilitate
its proposal to seize the value that rightly belongs to
Medivation’s stockholders, Sanofi is seeking to replace
Medivation’s highly qualified Board with a slate of hand-picked
nominees who have minimal biotechnology industry experience.
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View the full release here:
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Medivation urges its stockholders to reject Sanofi’s
solicitation efforts. Stockholders may do this by one of three
ways:
- Mark the “YES, REVOKE MY
CONSENT” boxes on the GREEN Consent Revocation Card
- Discard Sanofi’s consent solicitation
materials and do not submit Sanofi’s WHITE consent card, or
- If you have already signed and returned
Sanofi’s WHITE consent card, complete, sign, date and mail the
GREEN Consent Revocation Card as soon as possible.
Medivation stockholders of record as of June 1, 2016 are
eligible to submit consents or consent revocations by August 2,
2016.
[See: Medivation’s Stockholder Letter]
The letter to stockholders can also be viewed at
www.MedivationForStockholders.com and on the SEC’s website,
www.sec.gov.
If you have any questions, please call
MacKenzie Partners at the phone numbers listed below.
MacKenzie Partners, Inc.
105 Madison Avenue New York, NY 10016
proxy@mackenziepartners.com
(212) 929-5500 (Call Collect)
Or
TOLL-FREE (800) 322-2885
About Medivation, Inc.
Medivation, Inc. is a biopharmaceutical company focused on the
development and commercialization of medically innovative therapies
to treat serious diseases for which there are limited treatment
options. Medivation aims to transform the treatment of these
diseases and offer hope to critically ill patients and their
families. For more information, please visit us at
http://www.medivation.com.
Forward-Looking Statements
Forward-looking statements are made throughout this document.
The forward-looking statements in this document include, but are
not limited to, estimates and other speculative statements
regarding the potential for XTANDI and Medivation’s pipeline assets
and how they will drive growth for Medivation, Medivation’s
strategy, plans, initiatives, revenue target for 2020 and other
anticipated financial performance, expected clinical and regulatory
developments, and are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements may also be identified by words such as
“expect,” believe,” “should,” “potential,” “suggest” or similar
expressions. All forward-looking statements are subject to risks
and uncertainties which may cause actual results to differ
significantly from those expressed or implied by such
forward-looking statements. Factors that could cause or contribute
to such differences include, but are not limited to, Medivation’s
dependence on its collaboration relationship with Astellas to
support the continued commercialization of XTANDI® (enzalutamide)
capsules despite increasing competitive, reimbursement and economic
challenges; the risk that competitive, regulatory, or other factors
could negatively impact the pricing of XTANDI or any future
products; risks that unexpected adverse events could impact sales
of XTANDI; the risk that clinical trials of XTANDI and product
candidates in our pipeline will be unsuccessful; the inherent
uncertainty associated with the regulatory approval process and the
related risk of failure to obtain marketing approval for XTANDI for
additional patient populations and indications and/or product
candidates in our pipeline; competition from other approved or
generic products similar to XTANDI or product candidates in our
pipeline; failure to cost-effectively manufacture product
candidates in our pipeline; general economic conditions; and other
risks detailed in Medivation’s filings with the Securities and
Exchange Commission, or SEC, including its annual report on Form
10-K for the year ended December 31, 2015, which was filed on
February 26, 2016, and its latest Quarterly Report on Form 10-Q.
You are cautioned not to place undue reliance on the
forward-looking statements, which speak only as of the date of this
document. Medivation disclaims any obligation or undertaking to
update, supplement or revise any forward-looking statements
contained in this document.
Additional Information
This document is neither an offer to buy nor a solicitation of
an offer to sell any securities of Medivation. No tender offer for
the shares of Medivation has commenced at this time. In connection
with its proposed transaction, Sanofi has filed a consent
solicitation statement with the SEC and may file tender offer or
other documents with the SEC. Medivation has filed with the SEC a
definitive consent revocation statement together with a GREEN
consent revocation card. Stockholders may obtain the consent
revocation statement (including any amendments or supplements
thereto) and any related materials, free of charge, at the website
of the SEC at www.sec.gov, and from any solicitation agent named in
the consent revocation materials. Stockholders may also obtain, at
no charge, any such documents filed with or furnished to the SEC by
Medivation under the “SEC Filings” tab in the “Investor Relations”
section of Medivation’s website at www.medivation.com. Stockholders
are advised to read the consent revocation statement (including any
amendments or supplements thereto), as well as any other documents
relating to the consent solicitation that are filed with the SEC,
carefully and in their entirety prior to making any decisions
because these documents contain important information.
Certain Information Regarding Participants
Medivation, its directors and certain of its executive officers
may be deemed to be participants in the solicitation of revocations
in connection with Sanofi’s consent solicitation. Information
regarding the identity of these participants and their direct or
indirect interests, by shareholdings or otherwise, is set forth in
the definitive consent revocation statement filed with the SEC in
connection with the consent solicitation. Information regarding the
names of Medivation’s directors and executive officers and their
respective interests in Medivation by security holdings or
otherwise is also set forth in Medivation’s proxy statement for the
2016 Annual Meeting of Stockholders, filed with the SEC on April
28, 2016. Additional information can also be found in Medivation’s
Annual Report on Form 10-K for the year ended December 31, 2015,
filed with the SEC on February 26, 2016, and in Medivation’s latest
Quarterly Report on Form 10-Q.
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version on businesswire.com: http://www.businesswire.com/news/home/20160623006363/en/
Investors:Medivation, Inc.Anne Bowdidge, 650-218-6900orMacKenzie
Partners, Inc.Dan Burch/Bob Marese212-929-5500orMedia:Sard
Verbinnen & CoRon Low/David Isaacs, 415-618-8750orMichael
Henson, +44 (0) 20 3178 8914
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