Biotech's Euro-Marketing Gambit

Europe presents a big opportunity--but also significant challenges--to niche players seeking to expand. Some firms--such as US group Cephalon--have bought big in Europe, others like Shire and Celltech have made do with smaller acquisitions onto which they hope to build their own tailored infrastructure. No single approach is the same, and none has yet proven a clear winner. But all depend on finding the right products.