An employee works on an influenza vaccines production line at the factory Sanofi Pasteur.
Charly Triballeau | AFP | Getty Images
French pharmaceuticals group Sanofi said on Thursday it had made an all-cash offer to buy U.S. biotech firm Medivation in a deal worth about $9.3 billion.
Sanofi said in a statement it was proposing a non-binding proposal to buy Medivation for $52.50 per share, representing a 50 percent premium over the San Francisco-based firm's recent volume weighted average share price prior to takeover rumors.
Follow us on Twitter: @CNBCWorld