Welcome to the new biotech M&A conundrum: Should biotechs sell now at a depressed price or wait — and pray? — for values to recover?
Consider the cancer-focused biotech Tesaro, which is exploring a sale, according to a Friday Bloomberg report. Assuming Tesaro was acquired today at the typical 50 percent premium, the purchase price would be around $3 billion.
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This is like asking “If the price of gold is down, why aren’t people buying more gold?”