Integrated Drug Discovery Drives Intra-Biotech Acquisition
Executive SummaryBiotech, defying all predictions, has never consolidated. There are roughly as many companies today as there were three years ago, according to the Ernst & Young survey-1287 in 1996 vs. 1231 in 1993). But among leading discovery-based companies, acquisitions are beginning to be seen as a valuable business tool, though for very different reasons than consolidationists had proposed.
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