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Non-Tech : NIFTY NINE IN NINETY NINE PLUS ONE

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To: Mike McFarland who wrote (307)	1/30/1999 2:27:00 PM
From: Arthur Radley	Read Replies (1) of 613

The Industry Snapshot feature in Investor's Business Daily for Monday features the Biotech industry. Interesting reading with the following being the highlights of the article: 1) Investors disheartened by the poor showing have become reluctant to provide needed funding to biotechs. 2) For the second year, funding has dropped. It dropped nearly 21% to $7.7 billion in 1998 from $9.7 billion. This followed an 18% drop in 1997. 3) Advances mentioned in the article were the use of human "genome", or the sum total of all genetic codes in each person. Also the study of gene therapy is being researched. 4) The upside mentioned is that with the weak companies not being able to get funding, this will enable the companies with viable products to have access to more funding. The article concludes by stating.."these are perilous times for biotechs dependent on the capital markets to finance efforts." $90 billion dollars has been put into public biotechs since 1980 and the investors are getting "antsy". Don't they say ..."It is always the darkest before the dawn". Sounds like to me, now is the time to invest in biotechs.(:>)

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