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Biotech Survives Difficult Opening to 2008

In the current market crisis, biotech IPOs and financing are down, but partnering continues, and M&As are as hot as ever

The past four months have been tough. Investors have been shell shocked in the wake of not only surging oil prices (compounded by the declining dollar) and the housing slump, but also near chaos in the financial markets as Wall Street almost imploded in the wake of a massive global liquidity crisis. The biotech industry, however, has come through this turbulent period relatively unscathed, with the Burrill Biotech Select Index, a price-weighted index tracking 20 of biotech's "blue chip" companies, finishing unchanged compared to the Dow, which closed down 3% and the ...

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