Obviously the decision to own a stock depends on more than just PE ratios. However there are stocks out there that can involve you in biotech without having to buy a very expensive share in PE ration terms. Of course, you won't filthy rich quickly on any of them the way you would if you catch one of those early stage penny stocks that grow into giants, but hey, that's not what you're looking for anyway. Here are a few suggestions:Genzyme, PE ratio of about 30, straight biotech play, one of the largest and most diversified biotechsAmerican Home products, PE ratio about 27, owns Wyeth-Ayerst Lederle and Genetics InstituteElan, PE ratio about 34, owns Liposome Co.Johnson & Johnson, PE ratio ~27, owns CentocorPfizer, PE ratio ~38, owns Warner-Lambert and AgouronAbbot, PE ratio ~24, mostly devices/diagnostics but involved in biotech aspects of both and has contract mfg. divisions that work with biotechNovartis, PE ratio ~23, owns huge block of Chiron, has its own biotech oriented R&D on top of conventional small molecule pharma workDigger65
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