Jbog--Re Where are the Bio Funds Going Post on the Yahoo board.
I think you raise an interesting point. From my perspective I have owned CHIR (purchased by NVS) and MEDI (purchased by AZN). When I look to invest cash from the MEDI purchase into a comparable biotech, I see very little available (maybe BIIB or GENZ?).
I think that the megacaps AMGN and DNA are good companies, but their size limits their growth prospects. The market caps of both GILD and CELG have always seemed high to me. While both GILD and CELG are very good companies, I think of them more as pharmaceutical companies developing small molecule drugs rather than protein/antibody type drugs.
Of the top 10 biotechs that you listed, IMCL has the best prospects for substantial and sustainable price appreciation (IMO). IMCL has a product, a profit, a large and underappreciated pipeline, and a comparatively low market cap relative to the other biotech on the top 10 list.
Regards,
biophud
