David Hale's Biotech Blues

For Gensia Chairman David Hale, Oct. 18 was a heartbreaker. That day, Gensia announced that its Protara, a drug to prevent heart attacks during coronary bypasses, had failed clinical trials needed to win FDA approval. It was the latest in a string of late-stage biotech failures, and Wall Street stripped Gensia of half its market value. Says Hale: "I never dreamed that this could happen."

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