The biggest bio news hovering the pharmaceutical market is Bayer's much rumored sale of its blood glucose meter business to French healthcare company Sanofi SA.
The Wall Street Journal reported over the weekend that Sanofi and Bayer were working on a final deal that would be worth about $1.5 billion, although it isn't clear whether the two sides will reach a final deal. Bayer isn't talking, but Sanofi was the bidder left standing after an auction.
Bayer, which has offices in Pittsburgh, is apparently going to use the money it would get from the sale of the unit for acquisitions, as reported by this bio news.
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