Biotech Roundup: Judgment Day for Dendreon; Just Say No to Pfizer-Wyeth Combo
Large-cap biotech outperformed the market in 2008 performing slight better than half as bad as the rest of the market. The development-stage companies we cover fared much worse. Bio-Century noted in their year-end review of the space that the smaller-cap biotech companies were down around 60%. The performance of my own firm’s model portfolio was not that bad as it was more in line with the performance of the major market averages. I don’t take comfort in that at all. There is no way around the idea it was a terrible year for biotech and we weren’t immune.I wanted ...
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