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High prices won't deter biotech deals

from The Wall Street Journal

The pharmaceuticals industry has entered another deal frenzy. Eye-popping price tags reflect financial pressure favoring consolidation rather than a bout of madness. Celgene announced it plans to acquire cancer specialist Juno Therapeutics for $9 billion, at a roughly 90 percent premium to Juno’s stock price before The Wall Street Journal reported a deal was close last week. more

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