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Biotech / Medical : Biotech Valuation

CRSP 51.22

+2.1%

Nov 24 3:59 PM EST

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To: keokalani'nui who wrote (2300)	12/13/2000 8:51:59 PM
From: Biomaven	Read Replies (1) of 52153

William Blair & Co. analyst Winton Gibbons said concern about a slowing economy, highlighted by a slew of recent company profit warnings, hit many tech stocks, including biotech shares. "People are worried about how the dot-com decline is affecting other things like spending on computers and advertising," Gibbons said. "That concern hurts stocks, including biotechs." Sigh. I'd be hard-pressed to find a sector with fundamentals less affected by the dot-com decline than biotech. Maybe I should give this a try: "Drug stocks and Funeral services strengthened today amidst further evidence of the decline of the dot-coms. "Sales of anti-depressants have been strong," commented a spokesman for the Pharmaceutical Manufacturers Association. Despite this surge in antidepressant sales, the Association of Funeral Homes claimed that seasonally adjusted sales have also been strong. "Most of the bodies look fairly healthy," said a spokesperson, "but I guess having $50 million one month and being broke the next must be doing a number on their hearts or something." Peter

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