As I was Googling around looking for articles to use as homework for the upcoming Genentech meeting, I stumbled across this nugget on Matthew Herper's "Science Business" blog over at "Forbes."
When I wasn't looking the market value of biotech giant DNA surpassed the market cap of the world's biggest drug company, Pfizer .
As I write this PFE is at $84 billion. And Genentech is at $90 billion.
And as Herper points out, Genentech's revenue is about a quarter of Pfizer's. What's more, a widely-expected higher bid from Swiss drugmaker Roche will drive the market cap of DNA even higher. Meantime there's little that analysts see on the horizon, aside from the stock being cheap, to move up PFE shares. The other Swiss drugmaker, Novartis, is nipping at Pfizer's heels with a market cap of nearly $83 billion.
Good catch, Matthew.
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