Biotech M&A? Novartis chief Jimenez says he’s sticking to the under-$1B aisle for now
Novartis never did say just what kind of deal it put together in buying Ziarco late last year. But Bloomberg had already reported that the company was scouting for a deal, with cash and considerable milestones probably totting up to around the $1 billion mark.
In Big Pharma land, that’s the kind of modest biotech acquisition deal you can complete without sweating the details about cash in. And right now, Novartis execs are using it as a marker for the kind of buyouts that make sense right now, staying focused on small 1 or 2 drug deals.
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