The microbiome-focused group has some explaining to do.
A global pandemic has done nothing to crimp M&A premiums, with acquirers forced to swallow ever higher price tags.
A few multi-billion-dollar deals got done in the third quarter, but 2020’s acquisition scene still looks anaemic.
Like many biotechs the group pushed on into phase III after a phase II failure; remarkably, the strategy has worked.
20 key healthcare transactions, most struck before the Covid-19 pandemic hit, have yet to be formally completed.
Abbvie’s bid for Allergan shows that the Botox franchise is impenetrable. The market agrees.