Deals Of The Week: Value Surprise!

Sometimes the value of an asset is buried under serial acquisitions and doesn’t come to light for decades.. Also deal news from Janssen/GSK, Takeda/Immunomedics, Quintiles/Muscular Dystrophy Association, Vivus/Auxilium, Lilly/HMP, and Novartis/Immunogen

There’s a lot of talk about valuation these days. Sort of like the porridge in the nursery tale, it’s either too high or it’s too low, but it’s almost never just right.

Start-ups and micro-caps are frequently valued on the strength of their lead candidate, with earlier-stage programs, certainly anything in research, heavily or entirely discounted. But it sometimes turns out that...

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