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Biotech / Medical : VD's Model Portfolio & Discussion Thread
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To: CYBERKEN who wrote (9240)5/15/2002 12:02:49 PM
From: scott_jiminez  Read Replies (3) of 9719
 
<< The FDA has, as it does at least once per decade, slipped back into its crusade...>>

I read this claim all the time and refuse to except the premise...because it obscures or, moreover, denies the likelihood of the opposite assumption.

To whit, BT companies constantly make outrageous claims to investors of the their pipeline and products and they fail miserably to conduct all the necessary basic science to qualify as FDA-presentable. The executive cadre in this sector is as corrupt and devious as the energy trading folks ever were.

It is the companies, not the FDA, that need head-to-toe reform. It is time the companies learn basic honesty and humbleness about the exact application of their drugs (there is a 99.9999% chance that a drug for Alzheimer's disease will a) do nothing to address the underlying cause and b) will NEVER be relevant for ANY other disease, ESPECIALLY of the neurodegenerative type). Call a drug with $5 mil market potential precisely that and don't claim that an additional $5 BILLION could accrue from obscure derivative applications. BE HONEST!

Basic scientists, not entrepreneurs, must be directing the research.

The FDA has recognized and begun reform.

BT companies have completely failed to recognize the necessity of reform IN THEIR OWN HOUSE. A SEC investigation of the practices of BT companies - on the model of the current review of brokerage houses - should be a serious consideration.
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