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Two Ways: Eli Lilly Says Yes to Drugmakers


Strengthen your portfolio in good times and bad.


Big Pharma Gets Bigger

After spending $6.5 billion for ImClone last November, Eli Lilly (LLY) CEO John Lechleiter said he's still hungry for more. According to the Wall Street Journal, Mr. Lechleiter is looking to purchase another drug maker for as much as $15 billion. Should a transaction come to pass, it would continue the trend of Big Pharma companies snapping up smaller biotech firms.

This year alone, Pfizer (PFE) agreed to take over Wyeth (WYE) for $68 billion, Merck (MRK) agreed to merge with Schering-Plough (SGP) and Roche Holding was allowed to buy the rest of Genentech (DNA).

Todd talked about some of the biotechs in yesterday's Randoms: And You Wanted to Be a Trader!

From the Bull Pen: Abbott Labs (ABT) is on the radar for many bulls. But remember, these speculative plays can be dangerous so set your sell stop in accordance with an appropriate risk level.

From the Bear Cave: Biotech bears can play the downside in the Biotech ETF (IBB). A buy stop can be set above gap fill at $67.

Quick Check Around the World

Asian trading closed with the Hang Seng 0.89%, India 1.47%, Nikkei -1.54%, Taiwan 0.09% and Shanghai 0.64%.

Glancing towards Europe, we see the CAC 1.78%, DAX 1.27%, FTSE 2.95%

As of 8:00 AM EST, S&P Futures are trading +7 to 791, and Nasdaq futures are +12 to 1194.

A Look At Commodities

Crude oil is trading +2.97 to 49.85. Gold is +2.20 to 917.70. Silver is +0.57 to 13.090, and copper +6.50 to 183.10.

The dollar index is -0.605 to 85.7000.

On the Radar


09:00 S&P CaseShiller Home Price
09:00 S&P Cs Composite 20 YoY
09:45 Chicago Purchasing Manager 34.0
10:00 Consumer Confidence 28.00
10:00 NAPM Milwaukee

Click here for the full trading radar.

Hope you're having a great morning, Minyans! Good luck today!

In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.

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No positions in stocks mentioned.

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