12 Jan Midwest Medium, Large-Cap Life Sciences Had Solid 2003
CHICAGO – Last week, as part of our 2003 year-end biotech wrap up, I reviewed the performance of the Midwest biotech publicly traded companies. The region had an incredible year for this group.
This week, let’s a look at how the medium and large-cap Midwest life science companies fared in 2003. This group is even more important to monitor as a lot of the cash these companies spend on R&D and business development is on the biotech sector and some of that cash may just find its way into Midwest biotech coffers.
All of the above companies outperformed the Dow Industrials increase for 2003. Pharmaceutical companies Abbott, Baxter and Eli Lilly were all below the Dow’s performance. It appears that 2003 was good for medical devices and agroscience companies.
All in all, these larger-cap companies did not have as exciting a performance as the Midwest biotech companies. On the other hand, performance was generally solid across the board with no company having a declining year in its stock price.
See you next week!
Michael S. Rosen is the vice chairman of human health at the Illinois Biotechnology Industry Organization (IBIO). He can be reached at email@example.com. This article has been syndicated on the Wisconsin Technology Network courtesy of ePrairie, a user-driven business and technology news community distributed via the Web, the wireless Web and free daily e-mail newsletters. They can be found at www.eprairie.com.
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