That doesn't mean MRK is going to buy oncology companies. Look at recent public company buyout targets: GENZ, ISPH, CEPH. These companies have stable revenues, relatively low risk buyout for the buyers. Big pharmas have increasingly become conservative, and they are reluctant to buy high risk assets, rather prefer partnering high risk asset. Those often mentioned buyout targets won't get buyout offer any time soon unless the value is extremely depressed like MEDX, ZGEN.