Zacks.com releases the latest Analyst Interview. Today’s interview is with senior analyst Jason Napodano, who discusses Genentech (NYSE: DNA), Biogen Idec (Nasdaq: BIIB), Gilead (Nasdaq: GILD), Celgene (Nasdaq: CELG) and Pfizer (NYSE: PFE).
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So will this M&A activity continue? Who’s next?
Well, M&A activity usually breeds more M&A activity. I liken large-cap pharmaceutical companies to a herd of cattle – they seem to just follow each other around. Sometimes they are like lemmings and follow each other off the cliff, but to answer your question, yes, I think we will continue to see a high level of M&A for the remainder of 2008. Big pharma is well-capitalized and in desperate need of drugs to fill its pipeline.
As far as who’s next, it could be anyone. The Roche bid for Genentech (NYSE: DNA) shows us that no one is too big to be acquired. Other large biotech firms like Biogen Idec (Nasdaq: BIIB), Gilead (Nasdaq: GILD) and Celgene (Nasdaq: CELG) could all be targets of big pharma names like Pfizer (NYSE: PFE).
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