Credit Markets Aren't Stopping Health Care M&A

Tight credit markets haven't stopped health care deals, and last week offered up another interesting chapter that involved three long picks from the Biotech Select portfolio.
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Tight credit markets haven't stopped health care M&A, and last week offered up another interesting chapter that involved three long picks from the Biotech Select portfolio.

Merck

(MRK) - Get Report

said it

will link up

with its cholesterol drug partner

Schering-Plough

(SGP)

, and

Roche

finally --

finally

--

found mutual terms

with

Genentech

(DNA)

, one of those long positions.

Biotech Select portfolio manager Adam Feuerstein says Genentech's blessing is enough to convince the minority shareholders to approve the deal, but what will Roche have to do to get Genentech's talent to stay?

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Meanwhile, two other long picks in the Biotech Select portfolio made merger news, as well.

Gilead

(GILD) - Get Report

said Thursday that it

is picking up

CV Therapeutics

(CVTX)

in a $1.4 billion deal.

Roche-Genentech was a long time coming, but just one of many matches made in health care recently. Not so long ago,

Eli Lilly

(LLY) - Get Report

bought

ImClone

and

Pfizer

(PFE) - Get Report

recently said it would acquire

Wyeth

(WYE)

.