NEW YORK: equities powered ahead on the first reporting day of the period to November 3, as bargain-hunting set in following the previous week's dismal showing and momentum gained toward the US presidential elections on November 4. There were some good news stories for drug companies, coming both from medical conferences and quarterly result reporting, leaving all the pharmaceutical and biotechnology stocks tracked with rises, some of which were very significant. However, it should not be forgotten that the sector has taken a heavy-pounding in recent times, on the back of worries for the industry longer term. Also helping was the Federal Reserve Bank's interest rate cut.
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A biotechnology company, based in China, developing car-t-based therapeutics for haematological and metabolic and endocrine diseases with a focus on addressing unmet medical need.
Stock Commentary - New York week to Nov 3, 2008
NEW YORK: equities powered ahead on the first reporting day of the period to November 3, as bargain-hunting set in following the previous week's dismal showing and momentum gained toward the US presidential elections on November 4. There were some good news stories for drug companies, coming both from medical conferences and quarterly result reporting, leaving all the pharmaceutical and biotechnology stocks tracked with rises, some of which were very significant. However, it should not be forgotten that the sector has taken a heavy-pounding in recent times, on the back of worries for the industry longer term. Also helping was the Federal Reserve Bank's interest rate cut.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
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