More than eight in 10 biotech and pharmaceutical executives said major drug companies increasingly will rely on mergers and acquisitions to fill gaps in innovation, according to a survey by intellectual-property group Marks & Clerk. "Pharmaceutical companies may now have confidence and the support of institutional investors to press ahead with acquisitions, although at this stage, selecting the right acquisition targets will be critical to their future [research and development] success," a Marks & Clerk official said.

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