More on BIO 2006
Published 9:00 pm Wednesday, April 12, 2006
The Chicago Sun-Times has a wrap-up story on BIO 2006, which concluded Wednesday. Chicago was happy with the interest it spurred in that area and the fact that the convention broke previous attendance records. Here’s the story: http://www.suntimes.com/output/business/cst-fin-bio13.html.
And, in a bit of news that will be welcomed by Snohomish County’s small biotech firms, a panel of analysts at BIO 2006 predicted that the industry’s smaller companies will outperform the bigger ones in the stock market this year. The convention’s press release with the comments can be found here, http://www.genengnews.com/news/bnitem.aspx?name=430810, or here, http://www.pharmalive.com/News/index.cfm?articleid=331462&categoryid=36%2C61.
Key quotes: “Large-cap biotech firms need some blockbuster products for meaningful growth which is more than likely to come from small- to mid-sized biotechs,” said David W. Munno, Merrill Lynch VP of biotechnology. “Small-cap biotech is going to have a banner year,” added Vinny Jindal, of Think Equity Partners LLC.
Since all but one of the county’s biotech firms have market values totaling less than $1 billion (ICOS Corp. is the sole exception), a good year for small- and mid-cap biotechs means good things for those local companies.
Finally, here’s another “big-picture” wrap-up story from BIO 2006, this one from The Age in Australia: http://www.theage.com.au/news/business/biotech-spruikers-bluster-in-windy-city/2006/04/13/1144521462298.html.
