Worst. biotech. deal. ever? Turns out AbbVie has plenty of competition for that title
Buying any late-stage drug in a biotech buyout can be fraught with danger — and ripe for humiliation. AbbVie got a lesson on that with the final failure for Rova-T, a drug they forked over $5.8 billion in cash and equity to get its hands on.
But was this the worst. biotech. deal. ever?
I pitched that notion on Twitter and got a ton of feedback from everyone pointing out Teva’s disastrous generics buyout from Allergan, which tipped the company into a revenue spiral, to the Gilead and Celgene deals for Kite and Juno (thank you, Brad Loncar).
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