The pharmaceuticals industry has entered another deal frenzy. Eye-popping price tags reflect financial pressure favoring consolidation rather than a bout of madness. Celgene announced it plans to acquire cancer specialist Juno Therapeutics for $9 billion, at a roughly 90% premium to Juno’s stock price before The Wall Street Journal reported a deal was close last week. Not to be outdone, Sanofi said Monday it would acquire hemophilia specialist Bioverativ for more than $11.5 billion, or $105 a share. Bioverativ, which spun...

Source: Wall Street Journal January 22, 2018 16:34 UTC