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Biotech / Medical : Biotech Valuation

CRSP 53.97

-2.0%

Dec 29 3:59 PM EST

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To: Ian@SI who wrote (6822)	7/30/2002 12:44:19 PM
From: Ian@SI	Read Replies (1) of 52153

12:17 (Dow Jones) Morgan Stanley says tide is turning for biotechs. Firm has been cautious over past few months, despite what looked like attractive valuations, because of negative sentiment surrounding the group overall and limited news flow during summer months, which is historically the worst performing season for biotech. Morgan Stanley now becoming increasingly positive in outlook. (TG)

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