Global biotech merger volume has reached levels not seen in four years as big pharmaceutical companies pursue deals to get access to new drugs, with bankers saying therapeutic areas such as cancer, inflammation and autoimmune diseases are proving to be especially attractive.
Large pharmaceutical companies that have expired patents are looking for products to supplement their drug development efforts and sometimes to also give their primary-care sales forces more drugs to sell, according to healthcare bankers at Credit Suisse Group.
Big pharma's preference for commercial-stage assets, rather than clinical trial-stage drugs carrying regulatory approval risk, means that companies tend to pursue multibillion-dollar transactions rather than going for smaller deals. . .View Full Article