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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)
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To: Miljenko Zuanic who wrote (876)1/9/2002 11:50:35 AM
From: Doug  Read Replies (2) of 3044
 
M.Z: The probability of success in development of a new Breakthru drug has been very low. I believed that using Proteomics and Genomics this would increase. IMCL has clearly show that this is not the case. Infact the risk of skewed data being presented has increased as it is now easier to manipulate data.

As such the risk associated with investment in the new age Start ups is no different than the olde ones. Hence they may not deserve the high valuations that thay have.

To increase valuation, they must increase success rates or drastically reduce time for each project. Cos like LU, CHIR , MLNM, CRA, HGSI all have excellent world class Labs & good Scientists but lack the focus , zeal and drive to improve shareholders worth. They are driven by an addiction to science which results in a lot of patents , papers and pure research most of which lacks any practical applications in the immediate future. In brief they are not focussed on applied research with set goals ,deliverables and accountability all of which are essential in the making of a great CO. Compare the strides made by the Networking world and that made by the BIo-Tech world.
A check of the No of patents/stock price is a good indicator of which Cos have no applied focus.

Nevertheless the Scientist gain a big MAC ( Mutual admiration Club) membership , attending seminars around the world, plagiarizing from each other and defending the club against any accountabilty.

I am not "short" but a realist.!
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