Word: weisbrod
(lookup in dictionary)
(lookup stats)
Dates: during 2003-2003
Sort By: most recent first
(reverse)
...manages to instill new management intensity in the industry, biotech will remain a dicey game. Only one drug in 5,000 screened makes it to market. "We'll take the risk that a company fails to execute its plan once it has a drug approval," says Stuart Weisbrod, chief investment officer of Merlin Biomed, a health-care hedge fund. "What we don't want is the risk that their product doesn't work." The uncertainty of drug research - it can take 12 years to bring a new medicine to market - is what drives the industry's volatility. Biotech stocks soared...
...will remain a dicey game. Only one drug in 5,000 screened makes it to market, and even seasoned health-care investors are reluctant to handicap the process. "We'll take the risk that a company fails to execute its plan once it has a drug approval," says Stuart Weisbrod, chief investment officer of Merlin Biomed, a health-care hedge fund. "What we don't want is the risk that their product doesn't work." The uncertainty of drug research--it can take 12 years to bring a new medicine to market--is what drives the industry's volatility...
...adds up to big changes in an industry prone to speculative excess. Investors still shouldn't touch these stocks outside a mutual fund or without diversifying across at least five companies. Given the sharp run-up this year, Weisbrod's hedge fund has cut its biotech holdings a third, and six top executives at Genentech recently sold $36 million of the stock. The relatively stodgy feel of the Biogen-IDEC deal has still other growth investors running for the hills. It's all part of growing up--and part of Mullen's plan. --With reporting by Eric Roston/Washington and Unmesh...