Tougher outlook for biotech sector as funding dries up and brankruptcies rise
For a couple of years, there were virtually no mega-mergers in the international pharmaceutical sector, with companies instead looking to multi-million - even billion - dollar deals to acquire products from smaller and/ or biotechnology firms to stock up their R&D pipelines.
That all changed since the start of the current year, with the announcement of Pfizer's purchase of Wyeth, Merck & Co buying Schering-Plough and Roche finally succeeding in taking control of Genentech, to name but the largest deals (Marketletters passim).
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