Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 56.68

-2.4%

Dec 12 3:59 PM EST

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From: Ian@SI	5/20/2009 3:23:31 PM
	1 Recommendation Read Replies (1) of 52153

3:02 (Dow Jones) Barclays Capital upgrades the biotech sector to positive from neutral, declaring investor concerns about pressures on the industry are overdone. "We believe that reimbursement headwinds are temporary and that strong underlying product trends should support a rebound into 2H09," firm writes. Concerns about healthcare reform are adequately reflected in the stocks and fears of generic biologics and Medicare reform has been overblown. Firm notes that biotech products have survived similar pressures in Europe and continue to be reimbursed at parity to US pricing, with limited impact from biosimilars. Top picks are Celgene (CELG), Genzyme (GENZ), Amgen (AMGN), Onyx (ONXX), Cephalon ( CEPH), Cardiome (CRME) and Rigel (RIGL). (TJG)

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