Miller Tabak analyst LesFuntleyder isn't surprised by Bristol-Myers' response, but he dislikes that ImClone revealed the masked suitor's offer without first discussing it with Bristol-Myers privately.
Miller Tabak analyst LesFuntleyder said it would be more likely for a newly cancer-centric Pfizer to be the bidder, but for now, Lilly is in the spotlight.
LesFuntleyder, a fund manager at Miller, Tabak, says that the the stock, which his fund holds, could perform well partly because Lipitor sales may decline more slowly than investors expect, allowing Pfizer to beat earnings expectations.