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Drugs that work

10 April 2017 By Neil Unmack

Bain and Cinven paid 5.3 bln euros, a 49 pct premium, for drugmaker Stada. They could make a decent return managing Stada better and growing it, not just borrowing. That is exactly what private equity is for. Yet such targets are rare, and buyout firms’ war chests are brimful.

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