Solvay/Fournier No waffle here

Solvay’s E1.3bn purchase of Fournier is the latest in the continuing shake-up of Europe’s mid-tier drug makers. With this deal, the Belgian group look to have pulled a strategic, and possibly financial coup with the purchase of the French firm. And investors seemed to agree, sending Solvay’s shares up 6% on the news. Solvay’s problem was that as a mid-scale drug maker, it lacked both scale and access to the US market. This combination helps solve both problems. Also, Fournier is not so large as ...