No­var­tis’ biotech shop­ping spree stays fo­cused on the low-bud­get spe­cials of the day

No­var­tis inked a string of ac­qui­si­tions in the fourth quar­ter, but they bare­ly reg­is­tered on the Big Phar­ma Richter scale for M&A. There was a deal worth up to $665 mil­lion for Ok­la­homa City-based Se­lexys. The UK’s Ziar­co was swal­lowed whole af­ter shop­ping it­self for around a bil­lion dol­lars. A deal for En­core Vi­sion in Fort Worth wound up the year.

Small, low pro­file com­pa­nies. Small deals. Lit­tle or no de­tails on the num­bers.

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