ADVERTISEMENT
ADVERTISEMENT

Wall Street More Bullish On Biotechnology Firms

WASHINGTON—Biotechnology stocks, whose prices rose an average of 60 percent last year, should continue to do well this year as the industry expands, analysts predict, although individual companies may continue to have problems. Linda I. Miller, vice president for biotechnology research at Paine Webber Inc. in New York, last month told a seminar at The Brookings Institution here that the biotechnology industry has seen its risk factors decline and opportunities increase following the "turmo

Stephen Greene
WASHINGTON—Biotechnology stocks, whose prices rose an average of 60 percent last year, should continue to do well this year as the industry expands, analysts predict, although individual companies may continue to have problems.

Linda I. Miller, vice president for biotechnology research at Paine Webber Inc. in New York, last month told a seminar at The Brookings Institution here that the biotechnology industry has seen its risk factors decline and opportunities increase following the "turmoil and trauma" of 1983-85 period, during which its stock prices fell an average of 70 percent from their 1983 peak.

The industry is healthier now, Miller said. Patents on biologically engineered products have been upheld by the courts, a diverse assortment of products is reaching the market, and the field is maturing as biotech companies establish ties with larger corporations and the competitive fever begins to subside. After losing about $70 million in 1985 and an...

Interested in reading more?

Become a Member of

Receive full access to digital editions of The Scientist, as well as TS Digest, feature stories, more than 35 years of archives, and much more!
Already a member?
ADVERTISEMENT