today slick willie and England PM tony Blair came out with a joint statement that the human genome, once decoded, should become public knowledge. all genomic stocks are getting killed.... check out CRA opened at 189, now around 135, HGSI intraday low of 107!!!ABSC hit 59.... this is panic selling and represents a great buying opportunity...ABSC's story is unchanged and will not be at all effected if CRA has to turn over their genome work to the govt.full story posted on Yahoobest regards rog
Just to set the record straight...the U.S., even under Clinton, is still not a Communist country. The genome story today did not imply that CRA would have to turn over ITS work to the government. Last time I checked this country does not operate that way....thank God! The news today was that the government does not favor anyone being able to patent the human genome. CRA was not intending to do that anyway. The price drop for CRA is precipitated by people who bought into the stock without understanding how CRA intends to make money. Another example of why doing your DD is important.
I am new to this board, but I concur with rog. Aurora, in my opinion, is more diagnostic. I think the sharp sell off has been attributed to some people profit taking and the short term investors freaking out. As a genomics person myself, I see the real long term winners as the big pharms and companies like Aurora (who actually utilize the information). I applaud the Patent office for finally realizing that a sequence is a bunch of letters, and that it is what the letters mean that actually matters. Go Aurora!
Hi all, I'm another newbie to this board, but I've been following ABSC for the last 3 years and I'm seeing several things that have got me worried. Check out their latest annual report. You see lots of mentions about penalties for missing delivery dates for missing delivery dates to BMY and PD as well as a statement that their automation systems are much more complicated than originally anticipated and might need to be scaled back. One partner, Lilly, has already pulled out of the consortium and at a scientific meeting 2 weeks ago (Screentech 2000) a representative from BMY said that their system was not performing as well as they would like. I've been in the big pharma research biz for a 10 years now and I don't like where this appears to be going.
Damn straight. These populist pollmongers don't understand or don't care about big pharma, biotech or the wealth and health of their countries. When Clinton was making waves about drug prices, did he ever for one second stop to mention that these big pharma companies have to plow back billions of dollars in profits to fund research and development for the next generation of drugs? Who is going to fund new drug development if drug prices don't? Publically funded programs have never been good at developing practical drugs. He was just pandering then, that blew over, and he's just pandering now.Plus, the markets have no idea what this means. In fact, even if the most Draconian anti-innovation measures were passed, it wouldn't affect most biotechs. They'll sink or swim based on drugs or technology, not a mere DNA patent. The latter only gives them more leverage. This whole issue is and has been a big red herring. It's quite pathetic short-term and indicates an absolute ignorance about the real complexities of the biotech and pharma industries, but not an issue long-term.
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