Biggest biotech firm in Europe may be sold

Serono SA, Europe's largest biotechnology company, indicated yesterday it may put itself up for sale. US shares rose $1.53 to $17.97.

The company, based in Geneva, said it hired Goldman Sachs Group Inc. to explore ''alternatives" and declined to be more specific. Serono's market value increased to about $10.8 billion, and a sale at that price would be the biggest pharmaceutical transaction since Sanofi-Synthelabo SA bought Aventis SA in 2004 for $72.7 billion.

Serono's multiple sclerosis drug Rebif generated $316 million in revenue in the third quarter, and the company predicts the medication will be the worldwide market leader next year.

Pfizer Inc., Biogen Idec Inc., Schering-Plough Corp., and Amgen Inc. may be the only US companies interested in Serono, said Jon Fisher of Fifth Third Asset Management in Minneapolis.

''Pfizer will take a look," he said. ''They look at every company, every drug."