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Bayer & Millennium: There's Good News and Bad News

Executive Summary

Despite the way analysts greeted the $465 million target-production deal between Bayer and Millennium, the deal isn't good news for the industry. Millennium is the best dealmaker in the industry and Bayer one of the few remaining Big Pharmas with both the financial resources to afford and the obvious need for what Millennium sells. This deal isn't the start of a trend; it's just the opposite.

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