Though late-breakers rightfully seize much of the limelight at the Esmo congress, investors should look further afield too.
This week another takeover included a CVR element, confirming a trend that has been gaining traction over the past year.
A failed phase III trial has Ipsen clutching at straws to salvage its rare bone disease project palovarotene, which it bought for $1bn a mere 11 months ago.
Today’s deal with Blueprint gives Ipsen two shots at Fop, but makes its takeout of Clementia look even more expensive.
Abbvie’s bid for Allergan shows that the Botox franchise is impenetrable. The market agrees.
Chiasma hopes to be able to file its oral acromegaly therapy by year-end, and Novartis wants to shore up its MS franchise.
Bristol-Myers Squibb’s $74bn bid for Celgene led to a huge quarter, but a drop in the deal count could give pause to those hoping for a bumper year.