Back to School 1994: Clear route II

This fall season of the year brings with it a renewal of energy and the hope that biotech's dog days finally are behind it. Stock prices are up and the pipeline is chock-a-block with companies nearing the completion of late-stage milestones. Some really good corporate partnerships have been launched and time is running out for 1994 to be the year of the oft-predicted industry consolidation.

Like last fall, this seems an appropriate time to review the common agenda for moving into the new year. And, like last year's Back-to-School edition, the emphasis is on the ultimate source of value creation in the sector - individual company performance...