CAT Merges for Money; Chooses Well-Dowered OGS

The merger of Cambridge Antibody Technology and Oxford GlycoSciences won't, in the short term, solve many of the problems that both share--namely, a lack of products, scant clinical development capabilities and a non-existent sales and marketing infrastructure. It does, however, create a financially stronger potential acquiror in a European biotech industry in need of consolidation.