The wide-open IPO window has given private companies more liquidity options, so maybe it’s no wonder that pharmas are willing to pay more than usual for closely held start-ups. Judging by some recent acquisitions, pharmas are digging deep to buy assets they believe will become blockbuster cancer drugs.
The mid-June buyout of Aragon Pharmaceuticals Inc. by Johnson & Johnson for $650 million up front is among...
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