Commentary After the party

We would be among the last people to bring an umbrella to the party following last week's election. The prospects leave one a little giddy, with the stake apparently driven through the price control vampire's heart, to be replaced by golden tablets writ with capital gains tax cuts and R&D credits. And who will miss the House Small Business Committee, if it disappears as rumored, taking with it Rep. Ron Wyden's bully pulpit?

The industry should enjoy it. For about a week. Then it will be time to return to reality, which is that the biotech industry ultimately will rise or fall based on company performance, which means getting drugs through the clinic successfully.