When French newspapers reported in late January that bioMerieux-Pierre Fabre SA was ending its year-old merger, few knowledgeable people were surprised. The union in January 2001 created France's largest independent pharmaceutical company [See Deal]. (See "BioMerieux and Pierre Fabre's Surprise," IN VIVO, October 2000 [A#2000800180.) But the rationale behind it—to better compete in consolidating industries—remained unconvincing.
As the world's eighth largest diagnostics company, bioMerieux SA's expertise has been in infectious diseases. Pierre Fabre SA, one of a dwindling number of family-owned French pharmaceutical companies, is known...
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