Europe: Little news to excite disinterested investors

OXFORD - Britain's publicly quoted bioscience sector has just completed its worst quarter, worst half and worst year. Most publicly quoted bioscience companies are trading closer to their 52 week lows than to their highs as investor confidence has been undermined by disappointing clinical results and concerns over management credibility.

The BioCentury London Index finished the year down 29 percent. However, the decline in the second half was greater - down 32 percent since June 30 and 18 percent alone since Sept. 30...