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Sorrento Resists M&A Frenzy

US Biotech Rejects Unsolicited Bid

 
• By Kevin Grogan

Two pharma companies have made an offer for Sorrento Therapeutics that could triple the pain management and immune-oncology specialist's value but the San Diego-based group is holding firm.

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Sorrento not tempted by bid • Source: Shutterstock

The merger and acquisition merry-go-round is whirling again but Sorrento Therapeutics Inc. is not jumping on yet, having confirmed it has rejected an unsolicited buyout proposal from two biopharmaceutical companies.

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