While much of the focus in the pharmaceutical and biotech sector has been on whether or not Hillary Clinton will ascend to the White House, it's hard to ignore the flurry of deals taking being done. Not to mention some of the premiums being paid.

For example, last Wednesday Allergan plc Ordinary Shares(NYSE: AGN), after recently being a target of takeover, purchased Vitae Pharmaceuticals Inc (NASDAQ: VTAE) for $21 per share, or a 160 percent premium to its previous closing price of $8.10.

When a sector starts to heat up for deals, there's usually a catalyst that gets the ball rolling. In this instance, it certainly may be the fierce competition for the rights to purchase Medivation Inc (NASDAQ: MDVN).

As a result, those other companies looking to do acquisitions have turned to other companies in the sector. Whether or not Allergan was one of the companies rebuffed in the Medivation, it's obvious the sector is heating and there may be many more deals on the horizon.

Last week, Citigroup speculated Synergy Pharmaceuticals Inc (NASDAQ: SGYP) may be a likely target for Takeda. The firm noted commentary in the Financial Times regarding Takeda's appetite for U.S.-based acquisitions.

This Week's Deals ... A Trend Continued