Biotech Investors: When Will They Ever Learn?
Investors should get a grip on reality. Many small companies that were lifted on the latest news are strapped for cash and pursuing risky science that will take years to bear fruit. Even for big players, good trial data on a drug don’t guarantee Food & Drug Administration approval. And once drugs do get approved, most of them face competition in the market.
Drug ads deliver a few side effects Drug companies tripled their advertising budgets in recent years to acquaint American consumers with things like acid reflux disease, depression, erectile dysfunction, and even toenail fungus, a marketing blitz that accounted for roughly 12 percent of the growth in national prescription drug spending in 2000, according to a Harvard University-MIT study released yesterday.
Biotech Industry Could Turn Profitable This Decade
The U.S. biotechnology industry could turn a net profit within five to seven years if it gets a break on both regulatory and technological fronts, the author of a new report on the industry said.
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.
Genentech’s Next Move
Genentech stunned the cancer world last week with news that its Avastin colon cancer drug extended patients’ lives by five months, proving wrong skeptics who said the blood vessel-blocking drug would never work. Now the biotech pioneer is embarking on a bold strategy to dominate the cancer drug market for decades to come by combining drugs even before they are approved.
This Dutchman Is Flying
Maverick biotech firm Genzyme is winning big profits from a contrarian strategy: Think small