November 15, 2005 -- Serono SA of Switzerland disclosed last week that it was for sale. The news release was not so blunt as to use the word “sale,” announcing instead that the company “had enlisted Goldman Sachs to find strategic alternatives.” Serono has many valuable businesses. It has a pipeline that covers multiple therapeutic areas, several marketed products, and an extensive manufacturing capacity as well. We look at who might want the company and what the likely outcome may be...
