Schering Benefits from Big Biotech Mergers
Executive SummaryAmgen's and Immunex's eagerness to marry is likely why Germany's Schering picked up the Leukine business--complete with sales force and development team--for such a reasonable price. The deal also seems to vindicate the decision of Schering's management to relocate the company's Specialized Therapeutics Strategic Business Unit to the US in order to improve the groups ability to go after late-stage deals.
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It has been a bumpy ride for some of the (still modest) number of European biotechs listed on Nasdaq, for various reasons. Yet most expect the direct-to-Nasdaq trend to continue. Europe’s public markets simply cannot compete.