Biotech firms eye rally hungrily
With so many firms in dire financial straits, many executives are desperately hoping that this spring’s rally in biotech stocks will give way to a turnaround that will allow them to raise the cash they need to survive.
Biotech Stock Report – WOW! The market has gotten ahead of itself by chasing stories, but there is, in fact, fundamental improvement in the outlook for the biotech business. Wall Street is anticipating a slough of new products to hit the market in 2003/2004 and biotechs will be rewarded with earnings/profits.
Schering-Plough: Drugmaker, Heal Thyself
It has a potential blockbuster and a savvy new CEO. With federal probers and Claritin’s expired patent to deal with, it will need both
Geron’s the Biotech of the Day
Geron saw its shares rise $1.72, or 25%, to $8.68 after the company said it has received a patent that could be used in stem-cell research. The process would be used, if it’s ever needed, to provide an additional level of safety for cell therapies made from human embryonic stem cells, the company said.
India ‘to approve GM potato’ The commercial growing of a genetically modified potato which contains nutrients lacking in the diets of many of the poorest is expected to be approved in India within six months.
Yali Friedman lives in Washington, DC and is author of Building Biotechnology and other books; founder of DrugPatentWatch; and chief editor of the Journal of Commercial Biotechnology.
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