I agree, but things did seem to move very, very slowly for some reason. I've held the stock since mid-2010 ( http://www.siliconinvestor.com/readmsg.aspx?msgid=26614840 ) so I ended up doing fine, but I came close to selling it several times.
Whenever I grumble about a takeover I remember SCIOS - I grumbled mightily at the time when JNJ took them out, and look how that eventually turned out...
Overall though, I think I would have done way better had all the biotech stocks I've had acquired stayed in my portfolio. CNTO and LEVP are two in particular that I regret.