Word: biotechs
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...expanded nationwide this summer--we're now serving a few biotech firms in California," he said. "We serve pretty much half of the Massachusetts biotechnology industry...
While I'm busy gloating, Houtkin punches up Amgen, a volatile biotech stock that is suddenly on its way down. I decide to sell 10 shares short at 38 3/4; J.P. Morgan is on the other side of the trade. Now I have to buy the shares in order to deliver them to Morgan, hopefully at a lower price. But the downward wave I thought I was surfing on turns out to be little more than a splash in a puddle. Amgen edges up to 39 in most marketmakers' quotes! If it climbs higher, I'm really in trouble...
...Monsanto and others in the biotech industry are not being entirely forthcoming either. While hormones in the milk may be a false issue, there are other concerns about using BGH. Michael Hansen, a research associate at Consumers Union, charges that Monsanto suppressed data that would have put its product in an unfavorable light. The biggest issue, he and other scientists say, is that the hormone can lead to udder infections that not only are painful to cows but also could have consequences for those who drink the milk. Farmers treat the animals with powerful antibiotics that find their way into...
...drug companies hoped that BGH would be biotech's first big agricultural success. The estimated worldwide market: $1 billion a year. Given the green light for small-scale testing, they administered BGH to 20,000 dairy cows -- less than 1% of the U.S. herd -- and as predicted, milk production shot...
...Kessler made his mark as a champion of consumers' rights and clear food labeling. But there are cases where labeling creates a misleading impression, and this may be one of them. "Where do you draw the line?" asks a policy expert at the FDA. "Do you label all the biotech products? Do you list all the fertilizers? All the pesticides...