Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 55.08

-2.9%

Dec 26 9:30 AM EST

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To: Miljenko Zuanic who wrote (668)	2/20/2000 3:14:00 PM
From: John Metcalf	Read Replies (1) of 52153

Miljenko expressed my point very clearly: relative biotech valuations are rising off a depressed base. I think Rick is making the same point -- that 1992 represented an inflated base. Mid-nineties undervaluation started as a normal correction (triggered by the national healthcare debacle) which followed a period of hopes and wishes valuations. Like Rick, I expect some correction in hot stocks and areas. Demonic Genomics, for example, are hot as Hell. There is the possibility that money will find a new area, and there will be subsector rotation, as happened in internets and telecommunications. For example, product companies (e.g., Biochem Pharma) could be discovered. All it would take is one large, high-visibility acquisition at a premium, and everyone would be screening bios with products, as Peter Suzman has been doing on the Munch thread.

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