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AstraZeneca Buys Ardea for $1.26B

Biotech Firms Selling Like Billion-Dollar Hotcakes

By Catherine Shaffer
Staff Writer

Tuesday, April 24, 2012

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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