"Wow . . . We didn't see this one coming."

– Jefferies & Co. analyst Corey Davis in a research note on Valeant Pharmaceuticals International Inc.'s surprise hostile bid for Cephalon Inc.

"It's sometimes better to be lucky than good."

– John McManus, president and CEO of Aeolus Pharmaceuticals Inc., referring to the firm's BARDA contract for AEOL 11050, a drug originally aimed only at cancer until a researcher tried it successfully against mustard gas

"This is part of a long arc of looking at strategic ideas to accelerate the company from an R company to a D company."

– RXi President and CEO Mark Ahn said on the firm's merger with Apthera Inc.

"I think we're going to see a regression to quality."

– Jim Healy, general partner at Sofinnova Ventures, on how the venture contraction will mean that only the highest quality companies get funded