Posted on September 18, 2009 at 12:29 PM
Filed under: Acquisitions | Trends
Tagged: Abbott Laboratories , Alexion , Bristol-Myers , Eli Lilly , Gilead Sciences , Johnson & Johnson , Vertex

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Regarding biotech M&A, Credit Suisse Group AG (NYSE:CS) doesn't think there will be more megamergers in the next 12 to 18 months -- we could have told you that.

CS did list, however, what it sees as smaller prime acquisition targets alongside possible suitors:

• Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) by Abbott Laboratories (NYSE:ABT), Bristol-Myers Squibb Co. (NYSE:BMY) or Eli Lilly and Co. (NYSE:LLY);
• Amylin Pharmaceuticals Inc. (NASDAQ:AMLN) by Eli Lilly;
• Biomarin Pharmaceutical Inc.(NASDAQ:BMRN) by Abbott, Bristol-Myers Squibb or Eli Lilly;
• Rigel Pharmaceutical Inc. (NASDAQ:RIGL) by Abbott, Bristol Myers Squibb or Johnson & Johnson (NYSE:JNJ);
• Salix Pharmaceuticals Ltd. (NASDAQ:SLXP) by Forest Laboratories Inc. (NYSE:FRX); and
• Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) by Bristol-Myers Squibb, Gilead Sciences Inc. (NASDAQ:GILD) or Johnson & Johnson.
  

Credit Suisse "sees Alexion and Vertex as targets with the most merit, both of which are viewed bullishly on fundamentals and potential deals providing further upside."

A Citigroup Investment Research analyst recently upgraded Alexion to a "buy" from "hold," citing additional sales opportunities from a drug that treats a rare chronic disease called paroxysmal nocturnal hemoglobinuria, which causes a breakdown of red blood cells and leads to anemia.

See what's going on at Vertex in this istockanalyst report. - Baz Hiralal


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