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BioMarin (BMRN) Stock Surges on Takeover Speculation

NEW YORK (TheStreet) -- Shares of BioMarin Pharmaceutical (BMRN) were up 5.67% to $97.21 in late-morning trading on Monday after Pfizer (PFE) beat Sanofi (SNY) in a bidding war for Medivation (MDVN).

Investors are consequently speculating that BioMarin could be an alternate takeover target for Sanofi, Jefferies said in a note cited by TheFly.

Goldman Sachs similarly noted that Sanofi might now turn its attention to rare disease companies such as BioMarin, Amicus (FOLD) and Ultragenyx...