Selling Cialis

Lilly and Icos today postponed the Icos shareholder vote on the new-and-improved, $34-a-share buyout offer until January 25th. The vote was supposed to take place today, but after Lilly raised the bid -- somewhat reluctantly -- yesterday, the companies wanted to give investors more time to mull it over. At least one big shareholder is still complaining that Lilly didn't go high enough.

And under the category of things that make me go, "Hmmm". Celgene shares have gone from $42 in early October to $60 today. It keeps hitting new highs (another one today). Yes, the company has had what seems like a continuous stream of positive data on its cancer drugs. But, one has to wonder, especially in the wake of Pfizer's recent drug pipeline implosion, whether there's increasing speculation that Celgene gets taken out by Pfizer or a competitor.

Pfizer, for example, has said it wants a bigger footprint in biologics. A company like Celgene would give it instant access with products already on the market. The market cap today is pushing $21 billion, but it's still well within the reach of a cash-rich company like Pfizer.

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