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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (58318)	1/2/2002 1:50:55 AM
From: StanX Long	Respond to of 70976

OT, "G", found some pump while surfing. ;0( Stan 2001: The Year In Biotech Matthew Herper, Forbes.com, 12.28.01, 5:47 PM ET forbes.com NEW YORK - For biotechnology, 2001 began with a hangover. The mapping of the human genome had been an exuberant party that sent share prices sky-high and raised new hopes that understanding biology would lead to lucrative medicines and scads of cash. But as scientists unveiled their gene maps in February, share prices were already earthbound, and the flood of easy money from the public markets was drying up. There was still light at the end of the tunnel: prescription drugs--some of the most profitable products around. In a bid to turn themselves into grown-up drugmakers, biotechs started looking beyond the genome--the recipe for all the proteins that build and constantly rebuild the human body--and started to do a merger dance that culminated in Amgen's (nasdaq: AMGN - news - people) blockbuster $16 billion acquisition of Immunex. The new year begins with biotechnology companies in a strong position--and with the science that drives them marching on at the same inexorable pace.