Stockwatch: Big Pharma Buys Bargain-Basement Big Biotech
AstraZeneca’s Acquisition Of Alexion May Not Be The Last
The acquisitions of Alexion and Celgene are the latest in a long line of transactions in which big pharma buys big biotech. But these latest two are of biotechs that have disappointed their investors, and there are still some of those left for 2021.
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Bristol's surprising purchase diversifies its portfolio beyond Opdivo, while stopping Celgene's ongoing stock price declines after several setbacks. While Bristol execs downplayed the mid-term risk of generics for Celgene's blockbuster Revlimid, they highlighted near- and long-term growth drivers.
The stock price performances of the top two coronavirus vaccine producers are inversely correlated to their sales and pipelines. There seems to be an expectation of declining coronavirus vaccine sales for some, but not for others.
From clinical trials to in-person sales calls, the pharmaceutical value chain has been tested by the COVID-19 pandemic, but has held up. Nevertheless, recent friction within this chain may be more than a passing irritation.