For the record Baker Bros Stock exit strategy from stocks is pretty clear from the following:
"Over the years, the firm had a number of home runs as the invested firms got acquired at huge premiums. Recent M&A winners include Pharmacyclics (acquired by AbbVie), Synageva (acquired by Alexion), Salix (acquired by Valeant), Alexion (acquired by AstraZeneca), Global Blood Therapeutics (acquired by Pfizer), and ChemoCentryx (acquired by Amgen)."
An Acadia buyout is probably not much different. They do however have to buy something to sell.
Kens
Acadia, page-605
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