Outside U.K., the blush is still on the rose

OXFORD - Europe continues to send mixed signals. While the U.K. biotech sector is in the tank - the BioCentury London Index has declined some 25 percent over the first half - the market performance of companies on the continent has been fairly robust.

Indeed, the third quarter had barely opened last week when Pharming Holding N.V. stormed out with a $61.5 million IPO on EASDAQ, continuing the blue sky optimism reflected in the performance of key continental companies, including Innogenetics N.V. (EASDAQ:INNX), up 173 percent on the year; Genset S.A. (NM:GENSET; GENXY; up 51 percent); Qiagen N.V. (QGENF;NMkt:QIA; up 35 percent) and NeuroSearch A/S (CSE:NEUS; up 16 percent).