CSL, the Australian company that snatched up the Novartis' influenza business during the Novartis-GSK asset swap, has been vocal about the dangers of the growing "biotech bubble."
According to CSL CEO Paul Perreault, as big pharma companies face patent cliffs, they are investing billions in technologies and development programs that have yet to be proven -- a risky decision.
CNBC reports that CSL is the best-performing top 20 company on the Australian stock exchange over the past year.
"We are very choosy. Just because I have money burning a hole in our pocket doesn't mean I have to go out and buy something," said Perreault.
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