The number of biotech companies making a profit is set to increase. Evan McCulloch, manager of t...
The number of biotech companies making a profit is set to increase. Evan McCulloch, manager of the Franklin Biotechnology fund, says this will be driven by more approvals for new drugs. McCulloch expects 50 new drug approvals over the next three years and he believes that should drive substantial earnings and revenue growth for the sector. 'The number of companies that are expected to turn profitable should increase from 30 in 2001 to 70 in 2004,' he says. His prediction comes at a time when valuations in the sector have fallen and the performance of biotechnology funds has b...
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