The biopharmaceutical industry is, and always has been, rife with mergers and acquisitions (M&A) activity, with small biotechnology companies combining technology and platforms, mid-size organizations diversifying pipelines, and larger corporations replenishing products under the weight of expiring intellectual property (IP). And then come the multibillion-dollar megamergers: Glaxo Wellcome and SmithKline Beecham, Pfizer and Wyeth, and Merck and Schering-Plough, for example.
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