Biotech's Euro-Marketing Gambit
Executive Summary
Europe presents a big opportunity--but also significant challenges--to niche players seeking to expand. Some firms--such as US group Cephalon--have bought big in Europe, others like Shire and Celltech have made do with smaller acquisitions onto which they hope to build their own tailored infrastructure. No single approach is the same, and none has yet proven a clear winner. But all depend on finding the right products.
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Pharmion's Euro Bet Pays Off
Celgene's $2.9 billion cash and stock offer for Pharmion proves that Pharmion's decision to tackle Europe--not a popular choice among US-based spec pharma--has paid off handsomely. Pharmion is Celgene's European partner on Thalomid; now Celgene gets 100% of the drug's economics right before launch. The deal may have come as a surprise to Wall Street, but it makes sense.
Pharmion's Euro Bet Pays Off
Celgene's $2.9 billion cash and stock offer for Pharmion proves that Pharmion's decision to tackle Europe--not a popular choice among US-based spec pharma--has paid off handsomely. Pharmion is Celgene's European partner on Thalomid; now Celgene gets 100% of the drug's economics right before launch. The deal may have come as a surprise to Wall Street, but it makes sense.
Ex-Shire Team Builds New Euro-Specialty Group
Archimedes joins a growing new generation of pan-European specialty pharma, highlighting the need for a single commercial partner across Europe and the increasing alternatives to big and mid-sized pharma.