Plunging valuations may be forcing biotechs to lay off staff and strip back their pipelines, but Big Pharma doesn’t think the price tags on offer are sufficiently tempting to justify a shopping trip quite yet.
Judging by first-quarter earnings calls over the past two weeks, CEOs of many of the world’s pharma giants believe biotech prices still have a way to drop before they became irresistible acquisitions. While M&A as a means to replenish pipelines is very much on the menu for the big players, it sounds like they are resigned to being picky.
