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Bye Bye Vernalis And Another Blow For UK Biotech

 
• By Kevin Grogan

Vernalis' decision to switch strategy and enter the US cough-cold market backfired spectacularly and acquirer Ligand is getting hold of what once was a jewel in the UK biotech crown for next to nothing.

SC1808_UK Puzzle_1119344591_1200.jpg
Another piece gone in UK biotech network • Source: Shutterstock

There are many tales in the biotech sector of hundreds of millions of dollars being invested and then lost but the demise of Vernalis PLC, which in its various guises was a flag-bearer for the industry in the UK and is about to be acquired by Ligand Pharmaceuticals Inc. of the USA, takes some beating as a horror story.

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