Biotech partnerships often lead to buyout offers; a few examples (in descending order of buyout premium): • Roche-MEMY • PFE-COLY • PFE-ICGN • LLY-SGXP • PFE-ENCY • GSK-HGSI • NVS-Speedel • BMY-MEDX • BMY-ZGEN • MRK-SGP • LLY-ICOS • BMY-IMCL (outbid by LLY) Will BAX-MNTA be next?