Sanofi’s top scientist has warned uncertainty over pricing, particularly in the US, is making it hard to value acquisition targets, signalling the company will not rush into dealmaking at potentially inflated prices.Sample the FT’s top stories for a week
The comments from Elias Zerhouni, global head of research and development at the French drugmaker, come amid investor frustration over the drugmaker’s two recent failed attempts to acquire promising biotech companies.
“There is a lot of uncertainty right now in the values of all companies because of pricing issues in the US?.?.?.?in particular, but worldwide,” he said. “And so when you see the values that are being paid you question yourself as to the sustainability of those values, given the uncertainty in the pricing environment.”
