At least big pharma is a source of M&A fees. Following news that Merck is buying Schering Plough, Roche and Genentech have FINALLY ended an ongoing maiting dance, as the Swiss drugmaker will buy out Genentech for $47 billion. Genentech, formally a Roche subsidiary before being spun out, had resisted the sale for the longest time, but eventually given the market uncertainty and Roche’s tenacity, gave in.
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