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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: tom pope who wrote (2645)	1/23/2001 12:25:03 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 52153

Have you read this one from TSC? thestreet.com It baffles me how anybody can assert "Biotech is vulnerable" without citing individual companies and their burn rates, their pipelines and their estimated time to FDA approval. Message 15229629

To: tom pope who wrote (2645)	1/23/2001 5:22:06 PM
From: Biomaven	Respond to of 52153

tom, Re that TSC article, I now see it as it made it to the free site: thestreet.com "Everyone" now seems agreed that the pharma are going to be weak and the tools companies are passe. (Say, how do you do accents on SI?) They may be right about the tools companies, but I heard an interesting comment in one of the H&Q replays. (I think it was the wrap-up session). The analyst looked at historical periods where earnings estimates for the pharmas were increasing and those for the S&P 500 were decreasing (which is currently the case). In 9 out of 10 such periods the pharmas convincingly beat the S&P. (I'm speaking from memory, so I might have gotten this some garbled). I can only assume that some of the anger directed at the biotech stock prices is simply would-be schadenfreude from folks who got burned in the dot.com and high tech busts. "My stocks went up a bunch and then crashed down again, so it's only fair that your stocks should too." Very nice rally today! Peter