Our colleagues over at the Deal Journal raise an interesting point this afternoon: Even as there’s been a recent flurry of deals in the the U.S. bio-pharma world, a handful of European biotech shops have been sitting unsold on the auction block. Nycomed , of Switzerland, looked into being sold earlier this year, but that didn’t seem to go anywhere. Crucell , the Dutch vaccine maker, might have been bought by Wyeth — if Wyeth itself hadn’t been bought by Pfizer. Actavis , of Iceland, was put up for sale, but didn’t find a buyer.

And initial bids are due today in the auction for the drugs business of the conglomerate Solvay , which could fetch some $7 billion. One company that won’t be buying: Takeda Pharmaceutical, the Japanese drugs giant, said it wouldn’t be among the bidders, Reuters reports . Sanofi-Aventis, another possible buyer, isn’t interested, Deal Journal reports. Update : The WSJ is reporting that Elan is in late-stage talks to sell a minority stake to Bristol-Myers Squibb. Photo by sashafatcat via Flickr

See original here:
European Biotechs Rust On the Auction Block