Browsing Among Biotechs (Today From Barron's)

Browsing Among Biotechs By Lawrence C. Strauss |Published: August 20, 2008 Active Discussions on SmartMoney THE OUTCOME OF Bristol-Myers Squibb's $4.5 billion bid for the portion of ImClone Systems that it doesn't already own remains uncertain. So is the conclusion of Roche Holding's $44 billion offer for the shares of Genentech that it doesn't possess. Both targets want the bids raised. But one thing is certain: Mergers, buyouts and takeovers involving biotech outfits will become more common as Big Pharma increasingly tries to fatten its product pipeline by acquiring proven, as well as promising, bioengineered drugs. For Bristol, the big prize is Erbitux, an ImClone cancer treatment. For Roche (RO.Switzerland), the lure is a raft of Genentech products, ranging from Activase, a heart-attack treatment, to Avastin, a cancer... [read full story]