Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


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.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Lehman Cuts Biotech Sector to Neutral

Lehman Brothers downgraded the biotech sector to neutral from positive. CancerVax (CNVX) was one of the biotech stocks that fell on the comments.

Analyst Craig Parker says he thinks current valuations have discounted positive attributes of the biotechnology sector. As a result, he downgraded the sector. He notes the sector has achieved a level of financial maturity reflected in product sales of $30 billion-plus, an average operating margin for profitable companies of 34%, and sales growth of 20%-plus.

However, Parker believes that with increased reimbursement pressures, intensfied competition in most categories, and anticipated deceleration in sales growth in 2005, the sector could trade at a discount to historic levels for the next 12 months.

blog comments powered by Disqus