Did you expect anything less? ACAD went above $50 when IBB was peaking at 400. The IBB is down 265. It happens, it's sector-wide carnage. Just be blessed she did not get rejected and you would've lost 60-80%.
Do you really think it's going to matter to a Merck, Sanofi, Pfizer, AZ or anyone else how much $ it's going to take to be profitable and by when? No chance. They will continue to spend, promote and market their newly acquired (and recently approved drug) and will simply deduct the buyout price as goodwill/in shares and the losses off their existing gains to simply pay less in taxes for the next few years.
No brainer here. Did no research, clinicals, trials, paperwork, just bring a $1.5/billion dollar check to the table and boom, you have your newest drug in your lineup.