Biotech Firms Selling Like Billion-Dollar Hotcakes
Pharmaceutical companies rich in cash and facing multiple looming drug patent expirations are getting serious about refilling their pipelines with late-stage biotech products, in many cases through acquisitions valued at $1 billion or more. Having weathered a period of caution and austerity triggered by the worldwide economic downturn, the pharma industry is on a full-out shopping spree for biotech pipeline value.
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