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Biotech / Medical : Biotech Valuation

CRSP 56.27

-0.7%

Dec 15 3:59 PM EST

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From: Arthur Radley	11/14/2004 12:45:20 PM
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Is it just my imagination or is it really a case that our drug industry is moving into a crisis arena? The IMCL/Waskal issue is one thing, but now we have the spector of MRK management bring down one of the industry leaders...and why! Could MRK's CEO be the most stupid person in the world to lead a drug company? His appearance on NBC Friday night was scary to think this man could have been selected to lead such a company as MRK. His responses to this crisis were pathetic and disjointed, at the least. Now today, we have another front page story in the New York Times painting a very disturbing picture of how they have handled this crisis. But it is more than this issue of MRK that disturbs me. From personal observations we have a growing crisis with the "doping" of our children with anti-depressants, and I think we are just coming to realize this issue and the pressure the FDA is coming under as it relates to this issue. I challenge anyone to visit an elementary school and ask to see the "drug" room where they keep the daily dosages for their students. It will shock you! Now we are getting companies working on race based drugs(Nitromed), and even this issue brings new debate to the table. If this wasn't enough, now we hear that Vitamin E might be a killer as opposed to be a life saver. (On a personal note I have been a taker of a daily regimen and will vouch for the fact that since I started taking my daily dosage I have eliminated the constant irritation of my prostate. So what am I now to do!) This whole issue of drugs and the FDA IMO will be under a magnifying glass because of the political agenda and the other MRK related issues that I think are hiding just below the surface of national recognition. Just when I saw a glimmer of hope that we would have a more accommodating FDA that would speed up the drug approval process I see us moving back to the Stone Age. Any comments or is this just a case that I should start looking for the black helicopters flying over my head?

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