Biotech buys get pharma M&A off to flying start in 2015

March 5, 2015 1:31 PM

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LONDON (Reuters) - AbbVie's $21 billion deal to buy Pharmacyclics shows big pharma's hunger for new drugs at a time when research at smaller biotechnology companies is driving some of the most promising advances in medicine.

Competition for tomorrow's blockbuster drugs is now intense, inflating the cost of deals and pushing pharmaceuticals to center stage in overall mergers and acquisitions (M&A).

Also read: GSK pulls out of $20 billion race for Pfizer assets

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