It appears our wine drinking friends in France have gone on a deal binge. After spending $11. 6 billion to acquire Bioverativ Inc. the company doubled down and spent another $4.8 billion to acquire Ablynx NV, outbidding Novo Nordisk (NYSE: NVO) who had offered $3.1 billion for the company. Whether these deals work out for Sanofi (NYSE: SNY) remains to be seen. However, this deal binge does have serious implications for all the insulin makers including our friends at Lilly (NYSE: LLY) who reports results tomorrow.
As is customary whenever a company spends $16 billion everyone looks to . . .
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