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Let’s start with the biggest two messages: Roche’s (RHHBY) $5 billion takeover of Spark Therapeutics (ONCE) means that large pharma companies are on a full-fledged buying spree, and that gene therapy, a long-awaited approach to treating hereditary diseases, has made the big time.

The Wall Street Journal reported Saturday that Roche was in talks to buy Spark at a 150 percent premium to the smaller company’s market capitalization Friday. On Monday morning, the two companies announced that Roche would buy Spark for $4.8 billion, or $114.50 per share. Here are five things to keep in mind about this news for anyone who cares about the biotechnology sector.

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