Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

Biotech: Still Sick


Up Front: THE LIST

BIOTECH: STILL SICK

Biotech just can't heal itself. Last fall, Fidelity Investment's Select Biotechnology Fund Manager Karen Firestone said there could be a rebound if news on nine products in development was mostly good. Well, six months later, progress has been mixed. The American Stock Exchange Biotech Index is 38% off its 1994 high. Firestone's own fund is up a solid 8% for this year, thanks to bets on such outfits as Affymax and Chiron, both bought by big drug concerns.

BELLWETHER BIOTECHNOLOGY COMPANIES

Company Outlook Comment

CENTOCOR Positive Won approval to sell blood-clot preventer

NO. AM. VACCINE Positive New DTP vaccine looking good on tests

UNIVAX Positive Blood disorder treatment looks good

BIOGEN Mixed Beta interferon looks good; anticoagulant

drug failed

COR Neutral Awaiting post-heart-attack drug data

CELLPRO Negative FDA questions bone-marrow treatment

CELTRIX Negative Eye treatment failed

TELIOS Negative Wound-healing product failed tests

DATA: BUSINESS WEEKEDITED BY LARRY LIGHT, WITH OLUWABUMNI SHABI


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus