Facing ailing pipelines, Big Pharma may finally follow investors' orders and start buying Biotechs. Just today, Swiss-based Roche (ROG) launched a $3 billion hostile bid for tissue -testing company Ventana (VMSI). What’s the Big Pharma buying Biotech trade?
Pete Najarian says the convention of the American Diabetes Association happening right now in Chicago is propelling the entire Pharma industry. He says great results are coming out in all areas of diabetes research and now could be the time for consolidation in the industry.
Pete is following Isis (ISIS) and Myogen (MYOG) closely as well as Elan (ELN).
In addition, Pete says companies which stand to benefit most from their diabetes therapies are Isis, Bristol Myers (BMY) and AstraZeneca (AZN).