The second largest drug selling company, Bristol-Myers Squibb is all set for optimistic targets for year 2013. After achieving better than expected earnings, the company seems overwhelmed and has pre-defined its milestones and goals for 2013 after taking the investors into confidence, after the Plavix patent.

The company is banking upon its major assets, which are expected to roll by 2012, namely Onglyza diabetes medicine and others.

In the most recent run of biotechnology acquisitions by Bristol-Myers Squibb Co., the New York-based drugmaker announced on Wednesday that it has worked out a nearly $2.1 billion 'in cash' deal for the Princeton, New Jersey-based Medarex.

Under the terms of the buyout agreement - which is apparently Bristol-Myers' attempt at doubling its channel of experimental biological drugs - Bristol-Myers will pay Medarex $16 per share. The price is a whopping 90 percent premium over Medarex's Wednesday closing price of $8.40 per share.