Daiichi scouts Europe for biotech, cardio deals

Daiichi Sankyo is seeking biotechnology acquisitions in Europe to advance cancer research, and will use $5 billion in funds to enter new markets and fill gaps in its heart-drug portfolio. Its acquisition last year of about 600 sales people in Germany, Turkey and Ireland from Merck Serono is an example of a type of deal that can help the Japanese company sell its products in markets in which it doesn't have a sales force, Daiichi's European operations chief said. Report