Word: biotechs
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Dates: during 2000-2009
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...company behind the experiments. Although moral critics of the practice will blanch, the purpose of PPL's cloning experiments - the latest being conducted by the company's U.S. division, in Blacksburg, Va., with a federal government research grant - has been directed not at creating photocopy humans, but at developing biotech donor organs. The company announced it would begin clinical trials of porcine organ transplants in about four years, and its stock price (listed in London) rose by a record 19 percent on the news...
Just saying yes has been a smart play. Up an unprecedented 86% last year, the index known for its high-tech and biotech wonders is up an additional 21% this year. It hit a new high Friday as the Dow struggled to stanch a 16% decline. The two market gauges have diverged dramatically all year, going in opposite directions on half of all trading days. Such an extreme divide has occurred only seven previous times in 30 years, according to Bianco Research, and in this case illustrates the extent to which investors are dumping old-economy stalwarts in favor...
When a press release doesn't work, other groups take to the streets. In Montreal last week, activists opposed to genetically engineered foods demonstrated outside a global biotech conference. In France last year, similarly inclined groups dumped apples and manure in front of many local McDonald's, protesting their use of genetically engineered beef and grain. And last week a radical group that calls itself the Earth Liberation Front took responsibility for setting fire to a biotech lab at Michigan State University on New Year...
...president of the antibiotech Foundation on Economic Trends and no stranger to street theater, agrees that when it comes to protesting, less can be more. "If you go too far," he says, "nobody pays attention." On the other hand, it's hard to argue with results. In December the biotech giant Novartis announced that it was washing its hands of agritech. And last week delegates at the Montreal conference agreed to require labeling of all genetically modified goods...