Ebb & Flow

The doomsday mood in European biotech is lifting. Since the market bottom in March, BioCentury's European and London indices now are tracking the upswing in U.S. biotech stocks.

The BioCentury 100 Index, which consists primarily of U.S. companies, bottomed on March 7, followed on March 14 by the BioCentury Europe index and on March 28 by the London-listed group. Indeed, the European index has jumped 51.5%, while the BioCentury London index has regained 34.3%. By comparison, the BioCentury 100 now is up 48.3% (see "European Stocks on the Up")...