Has anyone seen the March issue of Nature Biotechnology?
Starting on page 239 there is a cute perspective on how the field has changed since the magazine was launched (called plain "Bio/Technology then) in 1983. Page 241 has an interesting list of 23 then public companies comprising an "Index of Specialty Firms". The index was launched in September of 1983 by the magazine. The editors do a "where are they now" routine assigning "medals" to the successful, independent ones, "rings" to those that married well, "turtles" to those still alive, but plodding along with "mediocre results", and "tombstones" to those that disappeared.
Of the 23 just 3 get medals (Amgen, $100 in shares in July 83 would be worth $4900 when the current issue went to press; Centocor $100 now would be $440, and Biogen the $100 would be $270).
An amazing 10 get tombstones; things like "Bio Logicals", Bio-Response, Biotech Research Labs, Cetus, Damon Biotech, Genex, etc.
Four get rings (Genentech, Immunex, Genetic Systems, and Hybritech -- not clear to me why Genetic Systems gets a ring while Cetus gets a tombstone; both seem like losers to me).
Among the 6 "gems" getting the turtle symbol, one has Ribi Immunochem: $100 invested in July of 83 would be worth $62 today -- 15 years later!
Actually, our friend MGI (MOGN) is mentioned among the turtles (known then as "Molecular Genetics"; $100 of its stock in July 83 would be worth $25 when the article went to press).
Kind of gives you pause ...
PB |
