Previously, the company had rejected the idea of an acquisition as it wanted to continue with its intended business plan.
MedImmune commented that some of its shareholders have been unhappy with the company's recent stock price. It also went on to say that it had reconsidered its position as some pharmaceutical companies had expressed an interest in making a purchase offer.
MedImmune is currently worth a $9 billion and its main products are its influenza medicine FluMist and its Synagis treatment for infant respiratory infections, which is its best selling treatment.
To assist in the process, the company has hired the services of Goldman, Sachs & Co and Dewey Ballantine LLP. Furthermore, the company said it would not publicly disclose any more information regarding the status of its evaluation until the process has been completed. MedImmune also emphasized that there can be no assurance that an acquisition of the company will occur.