Politics, please

Listening to Ira Magaziner in a teleconferenced address to the CalBio Summit meeting in San Diego on Friday, it's easy to see why biotech executives and investors come away mollified from their encounters with the Clinton administration.

In an engaging, friendly, open and relaxed manner, Mr. Magaziner professed concern about the biotech industry's future and the need to restore investor confidence in the sector. And, he said, "we invite biotech to come see us and talk about its concerns. We're serious about working with your industry to develop a health care plan you're comfortable with. You're invited to send a delegation to Washington."