It seems that more rumors persist of unnamed European firms sniffing around Dendreon. That $40 bid sounds suspiciously high though.
Dendreon is getting a $40 bid from some European Pharma giant. GlaxoSmithKline(GSK Quote) wants to buy Human Genome Sciences(HGSI Quote) -- again. Roche has its eye on PDL BioPharma(PDLI Quote). And Bayer hearts Spectrum Pharmaceuticals(SPPI Quote).
The thing that I can see is that these Pharma giants would rather pay to acquire the company that has already done the research and made it through the FDA minefield. They don't have to worry about failing in Type 2 trials or something because another company already took the risk.
In other words they are paying top dollar for research that they don't even have to do themselves. It sounds like a canny idea because biotech drugs have a longer patent period in which a Roche or whomever can make money.