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Wake-Up Calls’ For Biotechnology Lead To More  And Smarter  Deals

By Mary Welch

In terms of mergers and acquisitions, 1998 may very well be the year the proverbial dam broke.

“It may be the year we saw the first trickle opening of the flood gates in terms of activity,” said Paul Boni, a vice president at Punk, Ziegel & Co., in New York.

David Steinberg, an analyst with Volpe, Brown, Whelan & Co., in San Francisco, concurred that last year was “as active a year as there was in the entire decade. There were a number of acquisitions. Elan Corp.

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