One paragraph caught my attention. See below.
Biotech mergers have picked up and some expect more deals ahead, as big pharmaceutical companies sitting on cash, such as Pfizer Inc. with $33 billion, search for attractive biotech companies. Earlier this month, Pfizer agreed to buy Global Blood Therapeutics Inc., a biotech company that has one of the few approved treatments for sickle-cell disease, for $5.4 billion in cash. Profits from Pfizer’s Covid-19 vaccine have given the company the wherewithal to make more deals, investors say.
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