Prudential says it won't abandon biotech

Wall Street is so on edge these days that any hiccup becomes fodder for rumors. Thus the departure of biotechnology analyst Joseph Edelman from Prudential Securities fed speculation last week that the firm was getting out of the biotechnology sector.

Not so, said David DeWahl, managing director of investment banking at Prudential. DeWahl told BioCentury that the firm remains committed to the health care sector in general and biotechnology in particular. ...