| yup, I've read that, and conclude there are poor choices for investment. But, the main engine for R&D will continue to be the biotech powerhouses. That's why big Pharma is paying up the research bucks to fatten their own pipelines via the biotech's research. The talent has fled the big pharma culture. Big pharma knows it is cheaper to buy a pipeline than to try and lure unwilling workers back. It's become more of a peer/symbiotic relationship, wher the worker harnesses some value out of the creative process in the form of options grants. The growth in clinical trial numbers and reduction in FDA review process allow for a more cost efficient drug design process. This will only get better. You are correct though, if you ca not pick the great biotech comapnies, you will likely not see good returns on your investment. The blockbuster innovations will continue to come from ABGX, IMNX, AMGN, VRTX, DNA, and MLNM. There are, of course, others which will become great. People will continue to enjoy the spectacular benefits of drugs like Enbrel, and pay a premium for them, because they work. |
