Launches stratified

The dramatic change in sales projections for Provenge sipuleucel-T from Dendreon Corp. on Aug. 2 was a watershed moment for biotech launch stories. Going into 4Q, some investors are still sorting out their bets on the commercialization stories.

Indeed, according to a price-weighted index compiled by BioCentury, the post-approval performance of 21 companies launching their first or second drug in 2010 or 2011 has declined 40% this year (see "Launch Performance"). ...