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Keeping the bankers employed

Posted on June 26, 2009 4:43 PM
With public markets sluggish and not enough M&A to go around, what's a biotech banker to do? Drug industry dealmakers report that bankers are dipping their toes into unfamiliar waters, the bread-and-butter licensing and partnering deals that don't get the splashy headlines of M&A but provide a crucial source of cash for small companies that sell rights to promising drugs to larger firms with aging product lines.

"We're seeing a lot more activity from bankers," said Chen Schor, who runs business development for the branded-product group at Israeli generics giant Teva Pharmaceutical Industries Ltd. "They bring some order to the process," he said at an industry conference in San Francisco dedicated to licensing strategy.

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