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

To: Mark Bong who wrote (3817)	5/18/2001 11:48:15 PM
From: Biomaven	Read Replies (1) \| Respond to of 52153

Here's an interesting survey by Jardeni, looking at historical earnings estimates and PE's for different sectors: yardeni.com Pharmas and biotechs (meaning first-tier biotechs) are characterized by stable earnings growth and much higher PE's than most sectors. (They're around Page 47 of the report). One quibble I have is that he should have been looking at PE's relative to the long bond, not in isolation. Yardeni often has an interesting viewpoint, although he was way off base with his predictions of a Y2K disaster. Thanks to Bernard (Jibacoa) for pointing me to this report. Peter