The buyout "looks a bit rich in terms of the price paid and it's a trend in the sector, where biotech companies are commanding significant premiums, higher than they would have commanded in previous years because the pharmaceutical sector is being forced down this road," Navid Malik of Cenkos Securities tells Bloomberg.

"It doesn't make sense to me that someone's going to pay this ginormous premium for Amylin," Rodman & Renshaw's Michael King offered to Bloomberg. "The desperation of big pharma is the best thing Amylin has going for itself."

Bristol, which has had a busy and rewarding string of clinical successes in the past few years, also is watching generic competition slice away its franchise on Plavix. AstraZeneca, meanwhile, is being battered by falling sales itself. And the general scramble to bring in new products and start generating extra revenue is forcing up the value of the companies that are considered worth buying."

http://www.powercapitalconsulting.com/Biotechnology.php