The differences between biotech and pharma have always been a bit arbitrary. They mostly amount to whether the company name has been around for a century or mere decades, and whether there's a "gen" or a "zyne" in there somewhere.
But the distinction is getting fuzzier as the biggest biotechs get pharma-sized in market cap and ambition. Amgen, for instance, is getting ready to engage in the hoariest of Big Pharma clichés. According to the Financial Times, it's seeking a major acquisition to boost its pipeline and sales prospects as some of its major cash cows lose patent protection. It's reportedly looking for something in the $10 billion range.
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