Consolidation & managed care

Watching companies form alliances can be a little like watching couples pair off at teen dances. In the genomics dance, Human Genome gets SmithKline, Millennium gets Roche, Sequana gets Glaxo and Genentech.

In blood substitutes, Somatogen gets Lilly, Alliance gets Johnson & Johnson, Upjohn gets Biopure. One can mentally see companies lined up against the gymnasium wall waiting for a partner to ask them to dance...