Whole lotta nothin'

The wins last quarter were few and far between, while there were several clinical and regulatory blow-ups ranging from the largest to the smallest cap companies. With the exception of a 4% gain for the >$2 billion market cap group, every market cap segment lost ground, with the smallest performing the worst (see "Results by Market Cap," A2).

Among the large caps, Genzyme Corp. had another bout of manufacturing issues and shed 14% for the quarter. The company reduced its 2009 earnings guidance due to the difficulties and FDA subsequently sent a letter to healthcare professionals warning about foreign particle contamination in five of Genzyme's products (see BioCentury, Oct. 26, 2009 & Nov. 13, 2009)...