It's Thursday April 19th. This is Market Foolry. I'm Chris Hill and joining me in studio today for

a million dollar portfolio, Charlie Travers, and from Motley Fool Inside Value, Uncle Joe

Meager. Gentlemen, happy Thursday.

We've got earnings from eBay and Nokia.

We've got a new fragrance to tell you about,

but we are going to start with some pharma news.

shares of biopharmaceutical company,

Human Genome Sciences doubled this morning

after GlaxoSmithKline made a $2.6 billion

bid to buy the company Human Genome Sciences rejected the bid.

Charlie, first, why did GlaxoSmithKline make the bid in the first place?

Yeah, of course. So drug companies can grow by two methods.

The first is to invest internally in their own drug development

and the second path is to partner or acquire

with small biotech companies.

Glaxo already has a relationship with human genome sciences on a number of products

and it's a natural fit to take their products in-house and then strip out a lot of the extra costs.

So that's what they're looking at from their angle.

And why did Human Genome Sciences reject a bit?

I think it's like turning down a date with the first girl that asked you to prom hoping that a better offer comes along.

And so the stock is trading higher than what Glaxo offered, so the market does think that this

is a good gambit to make.

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