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Midwest shares in stock-market bloodshed as biotechs falterMidwest shares in stock-market bloodshed as biotechs falterTravel Trailers By Michael Rosen • 04/04/05 Its hard to believe that the first quarter has come and gone and daylight savings time is now upon us. Hopefully we wont have any more snow.
Economytravel.com cheap flights and discount airfare. Your one stop site for cheap flights and discount airfare. Travel Agency The stock market, on the other hand, is in the midst of a major blizzard! Results for the first quarter were not pretty almost uniformly across the board. Only the Dow Jones Industrials fared better than other indices in very stormy weather (this may be where the song Stormy Monday came from). Nice airfare, cheap Nice airfare, airfare to Nice, discount airfare to Nice, Nice hotels, cheap Nice hotels, discount Nice hotels Last Minute Travel The Nasdaq shed blood in the first quarter and the biotech sector was even bloodier. The broad-based Nasdaq Biotech Index was down a whopping 16 percent due to the failure of a number of drugs in phase III as well as the kind of malaise that hit Merck and Pfizer last year with drug recalls now affecting the biotech market. Rome airfare, cheap Rome airfare, airfare to Rome, discount airfare to Rome, Rome hotels, cheap Rome hotels, discount Rome hotels Aloha Airlines This time, though, it was biotechs turn when Elan and Biogen pulled their multiple sclerosis drug off the market after three deaths. Elan stock went from about $30 per share to around $3 per share whereas Biogen dropped from nearly $70 per share to about $34 per share. Pretty frightening! Cork airfare, cheap Cork airfare, airfare to Cork, discount airfare to Cork, Cork hotels, cheap Cork hotels, discount Cork hotels The 'white coast' is mainland Spain' round holiday area, developed resorts, but the elegant provincial capital Alicante. For cheap flights to Alicante, Onlinetravel.com allows you to compare discounted international airfares from over 500 airlines. Our easy to use flight search engine lets you choose your flight options, select your preferred flight from a clearly displayed list, and book your flight to Alicante online, quickly and securely. Travel Agents Within all this bloodletting, the Midwest shared in the pain. Midwest biotech stocks have done fairly well over the last two years with at least two-thirds of the stocks outperforming the key biotech indices by a wide margin. This time, though, the Midwest got caught up in the downdraft and sank even further than the market. Travel Deals Note that I have uncovered a few more publicly traded companies in the Midwest that I have added to the list. These include: Air Fares Techne, a clinical diagnostics company Travel Insurance Caraco Pharmaceutical Labs, an Indian generic company that has become a subsidiary of larger Indian pharma company Sun Pharmaceuticals, which is one of top five Indian pharma companies Travel State Gov Enpath Medical, a medical device company involved in cardiac arrhythmia management Travel Trailer Despite the dismal situation of the first quarter, a few companies did fairly well. These are companies that mostly had depressed stock prices during 2004. Ata Airlines Within this bloodletting, NeoPharms performance suffered not from product development issues but continued management strife. Its new CEO (a former Baxter senior executive) left after a short stint in the position. This was followed quickly by the departure of a NeoPharm vice president of regulatory affairs. Travel Agencies Other companies seemed caught up in the downdraft not so much as intrinsic product development issues but because of overall market malaise in the sector. So who says we dont get earthquakes or tsunamis here in the Midwest? Time Travel Next week, we will take a look at the large cap life science companies and see how they fared. See you next week and happy spring! Michael S. Rosen is the chairman and CEO of Immune Cell Therapy, a new start-up out of the University of Illinois at Chicago developing cancer vaccines. Rosen is also a founder and board member at the Illinois Biotechnology Industry Organization (IBIO). He can be reached at rosenmichaels@aol.com.
This article has been syndicated on the Wisconsin Technology Network courtesy of ePrairie, a user-driven business and technology news community distributed via the Web, the wireless Web and free daily e-mail newsletters. Lowest Airfares The opinions expressed herein or statements made in the above column are solely those of the author, & do not necessarily reflect the views of The Wisconsin Technology Network, LLC. (WTN). WTN, LLC accepts no legal liability or responsibility for any claims made or opinions expressed herein. Share this:More about:
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