This $5 billion biotech home run lasted less than a year
This $5 billion biotech home run lasted less than a year
You can’t completely blame PfizerIt is frames, but rockIt is The $7 billion acquisition of a bowel disease treatment it owned until last year is not a good idea.
In a deal that now resembles a biotech version of “Moneyball,” Roivant announced it was selling an asset it got for free from Pfizer just 11 months ago. (The Wall Street Journal reported on the discussions in July). Big pharma focused on the pharmaceutical industry equivalent of free agent signings will often overlook one of their own promising prospects. In fact, the Republican presidential candidate Vivek Ramaswamy founded Roivant on the idea that pharmaceutical waste can be another company’s treasure. But this one became an All-Star almost instantly.
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