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Clinton: Genomics patents OK

April 5, 2000 7:00 AM UTC

President Clinton today acknowledged his role in crashing genomics stocks in March, and said that private companies should be able to patent their genomics discoveries with specific commercial applications.

Genomics stocks responded strongly, with Celera (CRA) up $41.375 (56 percent) to $115 (nearly recovering the company's $42 loss on the day of the March 14 announcement); Gene Logic (GLGC) up $11.563 (39 percent) to $41.438; and Genome Therapeutics (GENE) up $6.35 (36 percent) to $23.75 on Wednesday. ...