In part, that is the penalty for coming late to the global consolidation table.

ECONOMIST: Cutting off NTT

This acquisition follows a wave of consolidation in biotechnology, as larger companies try to sit at the big pharma table and smaller ones seek shelter from the vicissitudes of the stock market.

FORBES: Millennium Buys COR, Wants To Be Merck

The accompanying table contains five of Dierckx's picks that he believes will benefit from the drive for utility consolidation.

FORBES: Magazine Article