Pharmaceuticals Start M&A Trend

Pharmaceuticals Start M&A Trend

The sector has seen three deals in five days, beginning on 21st September with the acquisition of the Swiss biotechnology company Serono by Merck of Germany for €10.6bn, and followed the very same day by the sale of fellow German company Altana's drugs division to the unlisted Nycomed of Denmark for €4.5bn. Belgian firm UCB completed the trio four days later the when another German company, Schwartz Pharma, accepted its €4.5bn cash-and-shares offer.

The three deals, of which all the targets were privately-owned, medium-sized specialised pharmaceutical companies, have been influenced by several common factors.....

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