No Miracle Cure From Pharmaceutical Mergers .

Drug companies have growing pains. But getting out their checkbooks to make up $35 billion in lost revenue from patent expirations this year is an expensive strategy. 

Swiss group Roche has already had its third bid to buy gene-sequencing group Illumina rejected. That is despite offering an 88% premium to its pre-bid share price, or about $6.5 billion. 

Roche's bid for Illumina is part of a bigger trend. Pharmaceutical deals worth $18.5 billion have been announced this year ...

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