Comment on Sunovion pays more than double the market value for a Canadian biotech

Sunovion pays more than double the market value for a Canadian biotech

In case there was any doubt that the drug price backlash is having little effect on the willingness of big pharma to pay top dollar for promising new drugs, the $624 million buyout of a Canadian biotech by Marlborough-based Sunovion Pharmaceuticals ought to make that fact clear. Sunovion, a privately held subsidiary of Japan-based Sumitomo Dainippon Pharma Co., announced late Wednesday that it plans to buy Toronto-based Cynapsus Therapeutics Inc.

 

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