Not necessarily many pharmas buy out before phase 3 and it doesn't even end up happening so that someone else can't buy them
You would have to really dig in the thread but in NRT maybe 2.5 years ago I wrote out a conversation I had with someone who ran phase trials for one of the biggest pharmas I can't even remember who now it's that long ago but it explains how trials and buy outs work when it comes to phase 1,2,3 ect in regards to being bought out
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