The logic behind large pharma is actually laughable.
These guys could have had Dendreon and sooooo many other stocks for literally pennies on the dollar had they had any intelligence level to them whatsoever (and some balls).
Instead, they wait until the stock price is multiples higher, and then end up paying several billion for these companies when they could have taken a gamble and paid a few hundred million.
I'm sure I'll get a lot of flack for that rudimentary thought, but, I don't think large pharma is all that smart in re: timing of acquisitions.