The Best of the Beaten-Down Drug Stocks

Is this a once-in-a-market-cycle chance to load up on drug stocks at great prices?

Pfizer's(PFE Quote) $60 billion bid for Pharmacia(PHA Quote) certainly has touched off a tsunami of speculation. What company will be next? How do investors pick up a quick buck in the acquisition frenzy that's about to explode?

Well, before you jump in, consider what my study of the price-to-sales ratios of drug stocks indicates: Pfizer has snapped up the only stock, Pharmacia, that looks like a bargain at current prices. The rest of the sector looks fairly valued at best. ...