Medivation Inc. (MDVN) has decided to explore a sale, Reuters reported Monday, citing people familiar with the matter.

The biopharmaceutical company recently rejected a takeover approach from Sanofi SA (SNY, SAN.FR).

According to the Reuters report, Medivation has signed non-disclosure agreements with Pfizer Inc. (PFE) and Amgen Inc. (AMGN).

Medivation shares recently traded up 4.2% to $62.50.

Full story at http://www.reuters.com/article/us-medivation-m-a-exclusive-idUSKCN0Y020U

Write to nymonitoring@dowjones.com

(END) Dow Jones Newswires

May 09, 2016 14:03 ET (18:03 GMT)

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