French pharmaceutical firm Sanofi (SNY) - Get Sanofi Sponsored ADR Report is reportedly interested in acquiring the Massachusetts-based biotech company Tesaro (TSRO) - Get TESARO, Inc. Report, according to StreetInsider.
However, Sanofi could have another competitor for Tesaro, which develops drugs for cancer, which is "likely" biopharmaceutical firm Gilead Sciences (GILD) - Get Gilead Sciences, Inc. (GILD) Report , the report said.
If one of the two were to successfully acquire the company, it would get access to Zejula, a PARP inhibitor approved to treat women with ovarian cancer.
The drug rolled out this year after winning a March FDA approval, and it launched with a $118,000 price tag.
The takeover of Tesaro would value the company at about $10 billion, or $185 per share.
Shares of Tesaro were climbing over 2% during afternoon trading on Monday following the report.
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