While Medivation (MDVN)  continues to dominate biopharma headlines as the Cancer drug maker rebuffs overtures from French drugmaker Sanofi (SNY) - Get Report , there are many other potential takeout targets in the sector to keep in mind.  

A robust level of small-to-mid sized M&A in biopharma--as opposed to mega mergers--is likely in the next six-to-twelve monthsas larger consolidators hunt for ways to boost their growth prospects, according to a note by Credit Suisse. Besides Sanofi, Biogen (BIIB) - Get Report , which is focused on the Neurology space, represents the other most likely buyer of a sizable asset in the next 12 months, according to the firm. 

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In the June 28 report, analysts of the firm identified 16 companies in and outside of oncology that could be pursued by large cap companies seeking assets. 

The pool of potential buyout candidates, according to Credit Suisse, includes Adamas (ADMS) - Get Report , Alder (ALDR) - Get Report , Alexion (ALXN) - Get Report , BioMarin (BMRN) - Get Report , Clovis Oncology (CLVS) - Get Report , Coherus (CHRS) - Get Report , Corvus (CRVS) - Get Report , Incyte (INCY) - Get Report , Intercept (ICPT) - Get Report , Prothena (PRTA) - Get Report , PumaBiotechnology (PBYI) - Get Report , SeattleGenetics (SGEN) - Get Report , Tesaro (TSRO) - Get Report , Ultragenyx (RARE) - Get Report and Versartis (VSAR)

The interest in Medivation suggests that Big Pharma is focused on purchasing new drugs to fight Cancer.

Since Sanofi weeks ago went public in its campaign to buyout Medivation--a company viewed as having significant scarcity value--numerous players including AstraZeneca (AZN) - Get Report , Bayer, Eli Lilly (LLY) - Get Report , Merck (MRK) - Get Report , Novartis, Pfizer (PFE) - Get Report and Roche have been cited as possibly joining the race for the maker of the Xtandi oncology drug. 

"Oncology is clearly one of the hottest areas of interest within biopharma, making it clear why multiple companies would be interested in MDVN," the report noted. 

In terms of potential buyers, global biopharma consolidators range in terms of how aggressively they're prowling for opportunities, according to the firm. 

After Sanofi and Biogen, the companies most likely to complete a sizeable deal in the next 12 months are Amgen (AMGN) - Get Report , Gilead (GILD) - Get Report , Merck and Pfizer, followed by Johnson&Johnson (JNJ) - Get Report  and Novartis, according to Credit Suisse. Other possible, yet less likely acquirers, are AbbVie (ABBV) - Get Report , AstraZeneca, Bristol Myers, Eli Lilly, GlaxoSmithKline and Roche (ROG) - Get Report , according to the firm. 

Of the remaining targets operating in oncology that encompass an already commercialized therapy, there's Clovis, whose Rucaparib ovarian Cancer therapy makes it a "compelling asset for a large biotech or pharma company", according to Credit Suisse. 

Seattle Genetics, meanwhile, markets hematology therapy Adcetris, which the analysts noted might be an attractive target for a company looking to boost sales growth. 

Among the most sizable players in oncology is Incyte, with an approximately $15.6 billion market cap. The company  recently received approval for its Jakafi asset and its Epacadostat therapy is currently in Phase 3. 

Corvus's CPI-444 immuno-oncology product remains in Phase 1, while Puma Biotechnology's Neratinib breast cancer therapy is anticipated to submit its NDA filing and EMA filing in mid-2016 and the second quarter of 2016, respectively. There's also Tesaro, which encompasses Varubi, an approved product that helps prevent Chemotherapy induced nausea and vomitting.