Biotech stocks surge as investors anticipate buyouts

Over the last six weeks the U.S. Biotech Index has shot up 13 percent, a clear indication that investors are hungrily anticipating a round of buyouts in the drug discovery business. Pfizer, of course, remains the big hunter in this game, with CEO Jeffrey Kindler (photo) considered a likely candidate to use a marquee-name deal to mark his rise to the top of that troubled pharma giant. But a whole range of Big Pharma companies are expected to weigh in on the bidding list, with the possible exception of a troubled Merck. Biogen Idec and ImClone Systems are at the top of the target list, especially as Biogen Idec has planted a 'for sale' sign on the company's door.

- read the article from The Wall Street Journal (sub. req.)