Big Pharma's appetite for Biotech deals has apparently not been sated. According to an article on Reuters today.
According to the article:
"Even amid aggressive cost-cutting, many big pharmaceuticals companies continue to seek biotech acquisitions in the hope of finding new drugs to replace those lost to generic competition."
However:
"....they will have to pay more than they did a year ago. The average value of U.S. biotech companies is increasing as funding flows back into the sector after a drought caused by the credit crisis....executives at the Reuters Health Summit said they need to make acquisitions and form partnerships to fill holes in their pipeline of new products, even if the terms are not quite as advantageous as they were a year ago."
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