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Jul30
Serono Earmarks $10 Billion in Acquisitions
Swiss biopharmaceutical firm Serono (SRA) is planning to expand through acquisitions, and could spend upt to $10 billion to improve bring more drugs into its pipeline and reduce its dependence on its top-seller, Rebif, a drug against multiple sclerosis.
"We have targets. We are in active discussions. We are in active due diligence," Chief Financial Officer Stuart Grant told Reuters in a telephone interview following the release of forecast-beating quarterly earnings.

A takeover target might be identified within 18 months, Serono focusing on companies with products already on the market or with products in late-stage development.

Read the full story from Reuters.

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