ORCH ceo articulates pharmaceuticals need for genomics products
July 7, 2000
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Orchid BioSciences To Generate Value In Mid-Term - CEO
Dow Jones Newswires
NEW YORK -- Orchid BioSciences Inc. (ORCH) is building a foundation to generate value in the mid- to long term, the company's chairman and chief executive said Friday.
Dale Pfost told CNBC that the company, which produces kits to measure genetic diversity and hasn't made any profit yet, is operating in an "explosively growing marketplace."
"The pharmaceutical and agriculture industries are already using our technology" to develop specific drugs or treatments, he said.
Besides, he said, "our competitors are potential partners, because our technology can work inside their instrumentation."
Orchid chip-based technology is already successfully applied in the treatment of leukemia, Pfost added, to tailor medications to the individual patient.
Pfost predicted a strong demand for his company's technology. "The pharmaceutical industry needs to find a plurality of drugs that work for the population at large," he said. "They need a test to define which drug to use with which patient, and this is the technology that we have."
-Elena Molinari, Dow Jones Newswires; 201-938-2312 |
