RE:PFE is buying ANACBecause it is cheaper to buy drugs than to develop, test and get approval.
ANAC ( market cap of $3 billion ) has annual sales of about $100 million and losing tons of money.
It has some promising advanced drugs too.
But, very expensive at 30 times annual sales.
Major up gaps are developing across all of the pharma/biotech indices this am, as a result of the developing momentum in M & A in this sector
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As i posted earlier, the bull market is resuming in pharmas and biotechs, after being beaten down by illegal short and distort attacks for the past 8-9 months.
Onwards and upwards to former highs