Medivation snaps up BioMarin's late-stage breast cancer med in $410M-plus deal

Lots of companies are working to bulk up in the cancer field--but not BioMarin ($BMRN). Buckling down on rare diseases, the company is out-licensing its Phase III PARP inhibitor to Medivation ($MDVN) for $410 million up front, with another $160 million in milestones. The prospect--talazoparib--entered Phase III back in 2013 for advanced breast cancer among patients with BRCA 1 or BRCA 2 mutations, and Medivation is hoping to add it to a marketed portfolio that already includes the successful prostate cancer pill Xtandi. More