Amid a noted slowdown in biopharma M&A, fresh comments from Novartis CEO Joe Jimenez signal the challenges facing the industry’s dealmakers. Namely, too-high biotech valuations have forced the Swiss drugmaker’s M&A scouts to eye earlier-stage assets. And bigger deals? No way, at least not yet.
More: Novartis CEO says shopping for bolt-ons is tough. Why? Creeping biotech deal prices