The buyside view, III

Companies that hope they will be rewarded for value-adding events this year can stop holding their breath. Events that caused sustained increases in stock prices in past markets won't do that in today's climate, according to institutional investors interviewed for BioCentury's third annual report on the Buyside View.

While fund managers acknowledge that events other than pivotal trial data and FDA approvals - such as corporate partnerships and M&A activity - can add value to companies, they see no way to reap near-term rewards from those events in this bear market...