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

To: hmpa who wrote (3418)	4/13/2001 11:06:41 AM
From: Biomaven	Read Replies (2) \| Respond to of 52153

hmpa, It probably doesn't help that the FDA is currently leaderless. Anyone heard about a replacement for Henney yet? (She was given 24 hours to clear out her office, maybe because of the FDA approval of RU-486. Tommy Thompson, the HHS secretary, apparently didn't even know she had been dismissed). There's been grumbling from the pharma too that the FDA has seized up, so it's not just inexperienced biotechs that are having problems. A tougher and slower FDA certainly has an impact on valuations across the sector. Likely Bush will appoint someone gung-ho on speeding things up, but it's going to be tough to find a good successor to Henney. (Let's see - we need a respected scientist that has publicly opposed RU-486 and stem cell research and is supported by industry, but is not too obviously in bed with them, and who is capable of effectively managing the FDA bureaucracy...) Peter