The pharma giant resorts to deal-making for a much-needed late-stage IO asset, leaving its own PD-1 agent out in the cold.
Myovant and Pfizer showed that deal-making was not taking a Christmas break, but for Celgene CVR holders the dream is almost over. And vaccine approvals gained pace.
The company has spent five years buying in discontinued projects, and at last has managed to sell one of these on at a nice profit.
Sage gets a big endorsement for zuranolone, but the markets say it should have waited until it had a stronger negotiating position.