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.


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


    Before it's here, it's on the Bloomberg Terminal. LEARN MORE