Bid deadline for Serono passes with no offers

Despite a round of talks with a number of big drug companies, no one made an offer for Swiss biotech Serono by the Friday deadline, according to a report in The Wall Street Journal. As a result, analysts believe that Serono may have to lower its sights on how much money it is seeking. According to the Journal, Serono may be looking for about $15 billion. The drug developer markets fertility drugs and a therapy for multiple sclerosis. Novartis, GSK, Pfizer and others have all held talks with Serono, according to the report. The Bertarelli family own a majority stake in Serono.

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