Word: biotechs
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...pigs and several score of sheep and goats have been cloned in the U.S. Since no one is monitoring the situation, meat from their offspring may well have started trickling onto the market. "There's a lot of pent-up volume," says Scott Davis, founder of ViaGen, a biotech company based in Austin, Texas, that charges $15,000 to clone a cow and $4,000 for a pig. "A clone has to be bred for you to get back your investment." --By Margot Roosevelt
...allows you to play news editor and zero in on the information you really need, even as you expand the number of sites you sample. You can subscribe to just the parts of the Seattle Times, for example, that cover biotech and the Mariners. Or you can go even deeper: instead of looking through all the new apartment-rental ads on Craigslist, say, you can enter your price range and your preferred neighborhoods, and save that search result as an RSS feed. The appropriate listings pop up in your newsreader every day, just as if you'd hired a real...
Some drug companies have decided that the best way to join the business is to swallow biotech firms whole. Eli Lilly announced in September that it would pay $300 million for San Diego-based Hybritech, one of the leaders in the development of monoclonal antibodies, which are proteins that could potentially help diagnose and conquer diseases like cancer. Last week Bristol-Myers said it would buy Seattle's Genetic Systems, another specialist in monoclonal antibodies, for $260 million...
Many experts think that takeovers will benefit the development of biotechnology. Most of the 200 or so small, research-oriented companies in the industry may need the resources and expertise of a large corporation to bring their discoveries quickly and successfully to market. The question remains whether or not biotech innovation will continue to flourish under the banner of the FORTUNE 500. Hybritech President David Hale, for one, thinks that it will. Says he: "We will continue to operate independently, and we feel that the company can still foster its entrepreneurial atmosphere as a subsidiary of Lilly...
...products, the financing and the experienced people to build a very successful business on our own." Echoes Swanson of Genentech: "I believe we are well on our way to building a major, profitable pharmaceutical company." But Genentech, Cetus and the other pioneers of the brave new world of biotech still have a long way to go. --By Charles P. Alexander. Reported by Cristina Garcia/San Francisco