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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: chirodoc who wrote (7487)	1/16/2000 11:32:00 PM
From: Vector1	Read Replies (1) \| Respond to of 9719

Curtis, We'll see how shewd. Remember I sold MLNM way too early and cut the models position in INCY and ABSC a few weeks ago. In the past there has been a decline after the HQ buzz has worn off. However,the genomics companies have caught the imagination of the the public and wallStreet much in the way the internet has so these companies could enjoy a long run. Indeed many of them like INCY, MLNM, ABSC and AFFX have powerful business plans. It would be great if we could track the number of posts on the biotech threads. I bet they are way up. This news from the Clinton Administration will also help Clinton to Ask $1 Bln More for Biomedical Research Reuters Photo WASHINGTON (Reuters) - President Clinton will propose an additional $1 billion for biomedical research as part of his fiscal 2001 budget, White House chief of staff John Podesta said Sunday. Podesta also said on ABC's ``This Week' program that he would meet drug company leaders Thursday to build support for providing prescription drug benefits to the elderly through the Medicare program. The industry opposed the idea last summer but has shifted to support it. The fiscal 2001 budget proposal also would earmark funding for development of so-called smart guns that can be fired only by owners. ``We're going to make a major investment again in the National Institutes of Health (NIH),' Podesta said, as well as proposing ``the largest increase' for the National Science Foundation. With the additional $1 billion, NIH would have $19 billion for biomedical research. Also, the White House would remove a limitation against using $4.3 billion in other research money, according to Podesta and a fact sheet distributed after his appearance. The new funds would be used to support new and expanded research into disease research and pharmacological advances. In the past year, the White House said, researchers supported by NIH discovered ``a simple, affordable drug to prevent transmission of HIV to infants, which could potentially prevent the infection of up to 400,000 newborns.' Others discovered a tissue engineering method to grow new arteries, a useful step in combating heart disease. Podesta said prescription drug benefits through Medicare would be ``front and center' in Clinton's proposals on Medicare. A drug industry trade group said last week it would support a prescription drug benefit for the elderly so long as it would not be tied to price controls on drugs and Congress began reform of Medicare, the federal health insurance program for the elderly. Last year, Clinton proposed giving senior citizens the option of paying a monthly premium in exchange for partial coverage of prescription drug costs. Earlier