Encouraged by the appointment of a new Food and Drug Administration (FDA) commissioner and a push of...
Encouraged by the appointment of a new Food and Drug Administration (FDA) commissioner and a push of new products to the market, sentiment appears positive for the biotechnology industry in 2003. Antony Milford, healthcare fund manager at Framlington, notes biotech stocks rallied from mid October to late November but gave up much of their advance in December. He adds for 2002 overall, large cap biotechs substantially outperformed mid and small caps, although this gap began to close in the fourth quarter. He says: 'The lack of a strong year-end rally has left the biotech sector well...
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