, Columnist
Maybe Sanofi Needed Those Expensive Deals After All
Tumbling pharma sales argue for paying up for reinforcements.
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Until Shire PLC makes up its mind about Takeda Pharmaceutical Co. Ltd.’s umpteenth takeover bid, Sanofi is this year’s pharma M&A champion with its combined $15 billion purchases of Ablynx NV and Bioverativ Inc.
I’ve been critical of those deals; Sanofi paid high premiums at the market’s peak in January.