Pharmaceutical M&A: Creating Value?
Executive Summary
Observers and investors are placing their bets on the outcome of Europe's first hostile pharma bid, Sanofi-Synthelabo's proposed takeover of Aventis, and on whether the resulting entity would indeed be able to thrive against competitors such as GSK and Pfizer. But even against the checkered backdrop of past pharmaceutical mergers, it remains unclear whether Sanofi can achieve even an average amount of savings from such a deal.
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