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Two Ways: Eli Lilly Says Yes to Drugmakers

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Strengthen your portfolio in good times and bad.

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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

Economics

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.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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