Merck and Sanofi buy smaller cancer drug firms at big premiums

Merck and Sanofi buy smaller cancer drug firms at big premiums

Merck and Sanofi buy smaller cancer drug firms at big premiums, fueling investor excitement

By MATTHEW HERPER

ADOBE

The purchase prices, in each case more than double the smaller company’s market capitalization, will fuel investors’ excitement for biotech deals.

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