Unusual Options Activity In Array BioPharma

Things are just getting started in the Pharma-Biotech takeover frenzy.  That’s because the biotech companies are selling at a discount.   For example,  Bristol-Myers Squibb BMY agreed to buy Celgene this month for a 32% premium. Eli Lilly LLY, announced plans to buy Loxo Oncology for a 66% premium. GlaxoSmithKline agreed to buy Tesaro US December for a 58% premium.
Array BioPharma develops cancer drugs including a recently-launched therapy for melanoma. It has potential therapies for several cancers in late stage development, including colorectal cancer and melanoma.  And it has partnered with big pharm companies such as Bristol-Myers Squibb, Merck, Pfizer, Novartis

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