Credit Suisse analyst Martin Auster said Lantheus' (LNTH) deal to acquire Progenics (PGNX) would value the latter at about $6 per share based on Lantheus closing price yesterday, though Lantheus is down about 20% following the deal announcement. He sees some strategic merit in the deal, given Lantheus' manufacturing and commercial expertise with radiopharmaceuticals and imaging agents, though he said there is still uncertainty on the launch path for Azedra and the PyL readout. The premium is "generally on the lighter side of biotech transactions," but Auster thinks the combined entity will have adequate resources to continue investing and calls expected synergies a source of potential upside.