Amid the gloomy prospects discussed recently for biotechs, some interesting data emerges about the attraction they hold for big drugmakers. For instance, the pace of biotech takeovers has increased, with 23 acquisitions since July 1 compared with 19 in the first six months of 2008, according to Bloomberg News. And drugmakers were willing to pay at least twice the market value in more than 50 percent of the announced or completed takeovers of the past year.

Of course, this may not cheer biotechs with dwindling funds and looking for government help (back stories here and here), but biotechs with cash and promising products can spurn offers from drugmakers hunting for bargains during the current financial crisis and, ultimately, command higher premiums than those lacking cash, according to Bloomberg.

Drugmakers will have to spend even more to persuade the most-coveted companies, says Stephanie Leouzon, a Credit Suisse investment banker who has managed deals, including Shire’s acquisition last September of Germany’s Jerini. “Even if buyers raise the premiums they’re willing to pay, they may not meet the expectations that sellers would normally have during more stable market conditions.”