Special Biotechnology edition of The Wall Street Transcript
BusinessWire, Thursday, October 01, 1998 at 12:35
NEW YORK--(BUSINESS WIRE)--October 1, 1998--The Wall Street
Transcript has just published its annual biotechnology issue including
a 46-page focus on the sector. Vital reading for investors and
companies in the sector, it features:
1. A timely and insightful roundtable discussion featuring
Jeffrey Casdin of Casdin Capital Partners, Margaret Malloy of
Hambrecht & Quist, Craig Parker of Donaldson Lufkin & Jenrette,
William Slattery of Amerindo Investment Advisors, and Elise Wang of
PaineWebber. Poor sector performance this year, as small stocks have
been battered, provide the background for this comprehensive review of
technologies, FDA performance, industry structure and management
within the biotech industry. A recent rebound reflects "oversold
conditions" according to Slattery, and going forward, the
distinguished panel points to consolidation of the sector and more
proactive investor behavior forcing the sector towards better
financial performance. "The individual investor is... increasingly
becoming an important source of capital for the biotech sector,"
suggests Wang, because it offers "a story many individuals relate to
in a personal way." The technologies that have broken through this
year are monoclonal antibodies and genomics, where "the convergence of
computer technology and biotechnology ...is going to create an
incredible explosion of very specific drugs" says Casdin. Slattery's
approach is to invest in "extraordinary management, clinically
meaningful and proprietary technology and access to cash." The group
identifies specific recommendations amongst both large and small cap
stocks.
2. An off-the-record article in which the CEO performance of 16
biotechnology companies is reviewed confidentially by analysts, money
managers and industry experts. Many CEOs are praised, including two
that are singled as being "the best CEO in the industry," and "at the
top not just this year but over the past several years." One
management group, however, is accused of being "lazy", having "not
done very well", and being "in some sort of major denial about how
serious their potential problems are." Vital insight for investors.
3. A special interview with Kurt Von Emster, manager of the
Franklin Biotechnology Discovery Fund at Franklin Advisors. While the
fund is down for the year, Von Emster insists that "you have to invest
for five plus years" and that in fact "valuations are at record
lows...companies have tons of cash" and "fundamentals...actually
improved a little bit beyond my expectations this year." He reviews
the overall market, therapeutic categories, changes at the FDA, and
the likely consolidation of the industry. He discusses his core
holdings and the reasons he likes them. For investors in these stocks,
he says, "the Wall Street market is very inefficient...a little more
knowledge about the group, a little more work on the company, and you
can have an advantage over most of Wall Street."
4. Three in-depth interviews with CEOs of biotechnology firms:
Robert Harris of Commonwealth Biotechnologies (NASDAQ:CBTE), Charles
Baker of The Liposome Company (NASDAQ:LIPO), and Jeffrey Jonas of
AVAX Technologies (NASDAQ:AVXT) discuss their companies; the
technologies, products and markets they work with; and the prospects
for investors.
Companies discussed in this special focus are: Agouron
Pharmaceuticals (NASDAQ:AGPH), Alkermes (NASDAQ:ALKS), ALZA (NYSE:AZA), Amgen (NASDAQ:AMGN), Amylin ((NASDAQ:AMLN), Aviron (NASDAQ:AVIR), Biogen (NASDAQ:BGEN), Cambridge Neuroscience (NASDAQ:CNSI),
Centocor (NASDAQ:CNTO), Chiron (NASDAQ:CHIR), COR Therapeutics
(NASDAQ:CORR), CV Therapeutics (NASDAQ:CVTX), DepoTech (NASDAQ:DEPO), Du Pont (NYSE:DD), Emisphere (NASDAQ:EMIS), Ergo Science
(NASDAQ:ERGO), GelTex Pharmaceuticals (NASDAQ:GELX), Genentech
(NYSE:GNE), Genzyme (NASDAQ:GENZ), Gilead Sciences (NASDAQ:GILD),
Human Genome (NASDAQ:HGSI), IDEC (NASDAQ:IDPH), ImmuLogic (NASDAQ:IMUL), Immunex (NASDAQ:IMNX), Incyte Pharmaceuticals (NASDAQ:INCY),
Inhale Therapeutic (NASDAQ:INHL), ISIS (NASDAQ:ISIP), Matrix
Pharmaceutical (NASDAQ:MATX), MedImmune (MEDI), Millenium
Pharmaceutical (NASDAQ:MLNM), Nycomed Amersham (NYSE:NYE),
PathoGenesis (NASDAQ:PGNS), Perkin-Elmer (NYSE:PKN), Sangstat
Medical (NASDAQ:SANG), Schering-Plough (NYSE:SGP), Sepracor (NASDAQ:SEPR), SUGEN (NASDAQ:SUGN), Synaptic Pharmaceuticals (NASDAQ:SNAP),
Transkaryotic Therapies (NASDAQ:TKTX).
For a copy of this complete issue, which also contains interviews
on other topics with analysts, money managers and CEOs, contact Robert
Ruffin at (212) 952 7433 or use the web at
secure.addy.com. There is a $175
charge for the issue. The Wall Street Transcript does not endorse the
views of any interviewee nor does it make stock recommendations.
The Wall Street Transcript is a premier weekly investment
publication serving serious long-term investors for over 35 years. The
Transcript publishes industry roundtables and interviews with Wall
Street analysts, money managers and company CEOs, and is read by top
money managers, brokers and individual investors. For subscriptions
information call (800) 246 7673.
CONTACT: The Wall Street Transcript
twst.com
800/246-7673
KEYWORD: NEW YORK CONNECTICUT
INDUSTRY KEYWORD: BIOTECHNOLOGY PUBLISHING PRODUCT
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