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That is by no means the most devastating loss stemming from a biotech failure in the '90s. Centocor Inc. fell from $60 to $5; Xoma Corp., from $32 to $1; Synergen Inc., from $73 to $4--all because of hyped septic-shock drugs that didn't work. Inject those babies into your 401(k), and you'll never retire. And these aren't isolated cases. Viren Mehta, a biotech expert at Mehta and Isaly, keeps track of biotech bombs. He says there have been 14 major disasters this decade. But even if you avoid specific product failures...

Author: /time Magazine | Title: BEARISH ON BIOTECH | 3/10/1997 | See Source »

...smaller companies, the price of failure can indeed be catastrophic. Shares of the biotech firm Synergen plummeted 68% in a single day last week after the company disclosed that tests of its most promising new drug had been disappointing. Synergen stock closed last Friday at 15 1/4, down 26 7/8 for the week. The debacle followed the January collapse of shares of Centocor, which fell more than 60% when the firm suspended U.S. testing of its bacterial-shock treatment Centoxin...

Author: /time Magazine | Title: Ouch! Which hurts more, the shot or the bill? | 3/8/1993 | See Source »

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