ARTICLE | Finance

Europe: Picking out the winners

October 1, 2001 7:00 AM UTC

3Q Financial Review

It is impossible to guess when the downturn in European biotech stocks will end. But end it will. And arguably the sector will come out the other side in better shape, as a sufficiently long drought will shake out the weaker public companies. At the same time, if the IPO market remains closed for a significant period, private companies will have a chance to mature using venture money, which ultimately would give public equity investors larger, more advanced companies in which to invest...