Biologics Help Wyeth, Schering Blunt The Pain Of Tough U.S. Market
Strong sales of biologics and global diversification buttressed both Wyeth and Schering-Plough - at least partially - against a tough U.S. operating environment in the third quarter and first nine months of 2008
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Pharma companies are bullish about biologics, seeing them as at least a partial solution for the pipeline troubles and reimbursement challenges bedeviling the industry. The major question is how best to bring these new biologics capabilities in-house--either piecemeal through a series of smaller acquisitions and licensing deals or in one fell swoop through the acquisition of a player with soup-to-nuts capabilities. Both strategies require delicate post-merger management skills, but many feel acquiring an end-to-end player is a faster, less risky solution to filling the biologics gap. But because few end-to-end biologics players are left for acquisition, in the future it seems likely that Big Pharma will be forced to make a serial acquisition strategy work.