Monday, July 3, 2000
With victory declared in the human genome project, maintaining
momentum in the biotech sector will depend on whether it can continue to provide
investors with a tangible anchor - something providing a sense of coherence
and upcoming excitement for the group.
Development of products based on knowledge of the genome clearly
will not happen overnight. Nevertheless, Streetwatchers are predicting that
the post-genomics story has enough legs to move the sector well past the summer
months. The belief is that news of the gene map will spawn a wave of new investment
to fund companies looking to add value to the data. Also, many predict that
the personal component of the map . "everybody. s got a genome" . will bring
a flock of retail investors into the sector.
Life after Clinton-Blair
The biotech industry rallied strongly in the second quarter,
given the downward momentum on which the 13-week period began, fresh off of
comments on the patentability of genetic discoveries by President Bill Clinton
and Prime Minister Tony Blair (see BioCentury Extra, Tuesday March 14).