I believe big pharma has faced somewhat of a "patent cliff" in the past few years, so yes m&a activity has been high.
Personally I see that as a problem though as its just too easy for big pharma to manipulate the ASX to get exactly what they want.
They do this knowing they have absolute impunity as ASIC and the ACC are worse than toothless tigers.
I would love to see the company see this through and get the dividends flowing for loyal shareholders.
A takeover rarely sees the loyal shareholders be fully rewarded imo
GLTAH
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