Deals in Depth: May 2009
Executive SummaryTop Tier Biotechs, as opposed to Big Pharma, featured as the prominent dealmakers with Celgene standing out thanks to its $540 million license to GlobeImmune's cancer programs. In M&As generics grabbed the attention of Novartis, which paid $1.2bn for Ebewe Pharma; meanwhile Covidien's $470 million takeover of Vnus expands its presence in the vascular market. The $1.2bn in biopharma financing was way up versus last month, but device fund-raising didn't fare as well, dropping 61%.
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