BMS has touted its so called "string of pearls" business development model for building its pharma business over the past few years -- successes include the Medarex (Yervoy approval) and Adnexus Therapeutics. And, the BMS stock price has responded favorably - enough so to embolden the just announced deal for Inhibitex at $2.5 B.
Competitors -- who may not have been sold when the strategy was first being touted -- seem to be more inspired. Teva recently hired BMS' chief dealmaker as its CEO to direct its future strategy for growth. Merck has also indicated it may be working on its own pearls by declaring it is in the market for big and small companies to augment its assets.
Now Sanofi CEO, Chris Viehbacher says he is looking at his own "string of pearls" strategy in apparent homage to BMS but will look to do so with a "mere" $2.6 B in available cash for 2012. Viehbacher though is looking both inside and outside biotech assets and doesn't want to go after any big oysters preferring perhaps assets with lesser luster but more affordability. See Fierce Biotech.
Just another designer knock-off I guess.
Posted by Bruce Lehr Jan 11th 2012.