Chiron/PowderJect: US Snaps Up Europe's Best

Chiron's acquisition of PowderJect is the most recent sign that the vaccines industry is coming of age, taking the field's only two mid-sized players up among the top-ranking Big Pharma. This deal was largely about infrastructure. But it suggests any European biotech with a valuable asset--be it product or distribution network--is an attractive takeover target for US firms.