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Biotech / Medical : Repligen Corp (RGEN)
RGEN 149.37-4.5%Jan 30 9:30 AM EST
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From: Harvey Allen12/24/2007 9:05:49 AM
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This is not to say that small biotech firms working on risky, but potentially breakthrough, technologies don't get a bid. That's what happened when Merck (MRK - Cramer's Take - Stockpickr - Rating) bought Sirna this year to move more aggressively into the field of RNAi therapeutics.

It also happened when Pfizer (PFE - Cramer's Take - Stockpickr - Rating) bought Coley Pharmaceuticals (COLY - Cramer's Take - Stockpickr - Rating) for an immunotherapy platform focused on drugs that target toll-like receptors.

In the build-or-buy debate, it seems like Big Pharma is finding it easier to do the latter. This means smaller biotech companies with the ability to identify, develop and manufacture biologic drugs like monoclonal antibodies are likely to be in demand.

PDL BioPharma (PDLI - Cramer's Take - Stockpickr - Rating) is looking to sell itself for just this reason. It wouldn't surprise me to see Xoma (XOMA - Cramer's Take - Stockpickr - Rating) on the list of acquired companies in 2008.

But one word of warning for investors using the lure of the lucrative buyout as their primary biotech investment thesis for the coming year: Biogen Idec., which put itself up for sale but received no takers

That covers some of the macro trends in biotech for 2008.

thestreet.com
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