Serono ends buyer search

Swiss biotech Serono has taken itself off the market after failing to receive an acceptable offer. Back in November Serono hired Goldman Sachs in order to "explore strategic options," but despite interest from a number of large drug companies, including Novartis, Pfizer, GlaxoSmithKline and AstraZeneca, a deal failed to materialize. The company will now consider making acquisitions of its own, particularly the therapeutic areas of oncology and immunology. "Moving forward, Serono will invest in its existing businesses and will actively pursue opportunities for growth through acquisitions," CEO Ernesto Bertarelli said.

- read the company's release for more