To: Robert Rose who wrote (96344 ) 3/14/2000 1:28:00 PM From: Libbyt Respond to of 164684
Biotech... >Sam, thanks for your take on biotech.< I agree with the thoughts that Sam posted....mainly about "spread your bets, and that biotech does not move in internet time" The market's reaction to the "news" from Clinton and Blair is a total overreaction. This "news" is nothing that hasn't already been stated in the past. Clinton may want this to happen, but the government can not make it happen. (Going back in history, some of the same thoughts were voiced about Genetic when it first began.) The nature of the field of medicine is to help those in need. The tradition of medicine is to share data to help humanity. (The reason the Human Genome Project was first established...a worldwide project, not an American project...and established before any of these biotech companies really became known, was to share data to help humanity.) The researchers of the world who work in traditional medicine want to have this information available so that everyone will benefit. However, nothing has changed...and the "news" today is not saying anything that hasn't been said before, and nothing basically has changed with any of these companies. I just returned from Palm Springs where there was a meeting of the American College of Medical Genetics. There were several companies that were being discussed "off the record" who were developing a "black name" with other academic based researchers, for the way they were obtaining their information and research. Some of these companies are going against the basic traditions of research and medicine, and are considered unethical in their methods. (But again...this is nothing new!) Hopefully these stocks will come back strongly in price as others see this as a buying opportunity. Libbyt