Monday, January 5, 1998
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.