Biotechs Rise on Bet Medivation Losers Will Look to Next Deal

August 22, 2016 5:31 PM

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For losers in the $14 billion bidding war over drugmaker Medivation Inc., the best cure for the mergers and acquisitions blues may be to go shopping.

That’s good news for BioMarin Pharmaceutical Inc., Biogen Inc., Incyte Corp., Clovis Oncology Inc. and Tesaro Inc., which were mentioned by analysts Monday as potential targets for drugmakers that lost out to Pfizer. Shares of all four companies rose following the takeover announcement, partly becau...

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