Sanofi said to weigh alternative deals to Medivation; eyes BioMarin Pharmaceutical - sources

French pharmaceutical giant Sanofi is working on a back up plan in case it fails to win its $9.3 billion hostile pursuit of US-listed Medivation.

Top sources have told me the French pharmaceutical giant has begun looking at US-based rare disease specialist BioMarin Pharmaceutical as a potential alternative takeover deal after growing frustrated in its pursuit of Medivation, which has so far resisted the French company's advances.

Quelle Surprise: Sanofi makes $9 billion hostile approach for Medivation

There is some big news out this morning in the pharma/biotech world.

French drugmaker Sanofi has finally confirmed it's interest in purchasing US biotech Medivation - the Medivation takeover rumours were first aired on Tip TV a couple of months ago. Here is the link:

Another non-denial, denial

Today's wire reports out of Switzerland made me chuckle.

Apparently, Jean-Paul Clozel, chief executive of Actelion, told Reuters that "there's been absolutely no offer" to takeover the company.

Another day, another multibillion dollar pharma deal....

Wow - today's news about Pfizer formally launching its $100 billion takeover bid for AstraZeneca has sent the pharmacuetical sector rumour mill into overdrive.

One company that is getting a lot of attention in European markets is US-based InterMune, a biotechnology business focused on the research and development of therapies in pulmonology and fibrotic diseases.