`Buyout Bait' In Biotech

Health-care stock maven Jim McCamant can say "I told you so" about Chiron and Synergen: All year, the editor of Medical Technology Stock Letter has argued that biotechs have been so beaten down as to be bargains. Well, Swiss drug-and-chemical giant Ciba-Geigy is buying nearly half of Chiron for a steep $2.1 billion. And Amgen is acquiring Synergen for $262 million.

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