Biotech Values

[DewDiligence]

BMY:

Could you educate me on how the suitor will make the M&A economics work if pending clinical development candidates fail to fill the plavix gap in 2012, or was that already built in the stock price?

The Plavix patent cliff is fully reflected in the share price, IMO.

p.s. BMY made a new 12-month high today. I expect SNY, NVS, or GSK to make their moves by the middle of next year (if not sooner).