BioMarin Pharmaceuticals Jumps on Takeover Talk

Biotech company BioMarin Pharmacuetical's (BMRN) - Get Report shares are moving sharply higher on heavy volume in Friday's session. This on talk that French pharmaceutical giant, Sanofi (SNY) - Get Report might be looking to buy the orphan drugmaker. Financial blog Betaville reports that Sanofi has shifted its focus to BioMarin, frustrated after its advances for Medivation have been rejected. But TheStreet's Alicia McElhaney says the talk may be nothing more than just that. Jeanne Yurman reports.

This article was written by a staff member of TheStreet.