BioCentury
ARTICLE | Strategy

Choosing to survive

July 25, 2005 7:00 AM UTC

Building sustainable biotech businesses when investors are playing hard to get is forcing European CEOs to think about making some hard choices. For some that means surrendering their independence, for others it means thinking about emigrating, while the braver ones are looking to tough it out by keeping a tight grip on costs.

Last week, two European companies with flagship potential - Arakis Ltd. and Glycart Biotechnology AG - decided instead to be acquired, frustrated by the reluctance of the markets to provide what they saw as fair valuations...