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

To: Anthony Wong who wrote (1460)	3/3/1999 4:44:00 PM
From: Dan Spillane	Respond to of 2539

The bigger issues surrounding Medicare go beyond the up-front cost of pills, assuming today's medical technology. People like myself (and Al Greenspan, by the way) also consider what longer-term medical technology trends will do to costs. To wit, genetic technologies such as gene therapy or "low cost drug factories" offered by companies like Monsanto could become monumentally important not only to patients, but the government...who has to fund Medicare. So, looking at today's costs is the first step, but taking a broader economic perspective on health care is more important. Considering many biotech firms are undercapitalized given the potential impact of cost reductions, you might consider carefully where you place investments. This also begs the question, "Is a stock market which overcapitalizes some areas which are not economically critical -- and undercapitalizes those that are -- truly 'efficient'?" Hmmm...perhaps not, at least in the short term, because most cannot grasp abstractions of economics in this way. ...perhaps Al will find himself asking this question soon...I suspect that an efficient market will adjust valuations in the longer term. In fact, I can't see how it won't, given the fact that brilliant folks like Al are discussing this topic right now. (commentary on Medicare) Message 8133799