Goldman Sachs searching for Serono buyer
Executive Summary
Swiss-based biotech Serono confirms Nov. 8 that it has retained Goldman Sachs to "explore various strategic alternatives for the company." Merger talks have been held with Novartis, GlaxoSmithKline, Sanofi-Aventis and Pfizer, the Wall Street Journal reported Nov. 9. On Oct. 17, the firm agreed to a $704 mil. settlement with the U.S. Department of Justice over promotions of the AIDS wasting agent Serostim, marking the largest penalty ever paid by a pharmaceutical manufacturer to resolve civil and criminal investigations into off-label marketing (1"The Pink Sheet" Oct. 24, 2005, p. 10)...