Word: biotechs
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Dates: during 2000-2009
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SMITH: The beginning part of the recovery has tracked what you would have thought. Aggressive-growth companies have done well: biotech, semiconductor companies, Internet companies--stocks you thought were going to go out of business. And so have big companies whose stock has come down dramatically, like EMC and Ericsson. Now it's a more level playing field, and the premium for quality companies over average companies is very small. So I think you would want to buy quality. You'd rather buy Wal-Mart, vs. J.C. Penney or Dell, vs. Hewlett-Packard...
Along with MIT President Charles M. Vest, Summers discussed how to stimulate the state’s biotech industry and to foster a bustling university-industry collaboration along the lines of Northern California’s Silicon Valley to an audience at the Business School’s Hawes Hall...
...Michael Porter, the star economist who Summers tapped to organize the event, said that—despite Massachusetts’ pre-eminence in the life sciences—government, universities and companies need to better leverage their expertise at a time when other regions are feverishly seeking to attract biotech development...
While much of the summit’s language was general, some debate lingered over the particular roles that government should play in affecting growth in the biotech sector...
...plan focusing on science, which comes after the culmination of various reports from McKinsey, the UPPC, HLS and faculty committees, may be based on President Summers’ dream of an expanded biotech campus, but also on practical considerations...