Saturday, June 6, 2009

The Biotech Fizzle

Yup, good thing the state borrowed a billion bucks for this money-losing proposition (of course, that's the point: pour taxpayer money to favored interest friends).

Related:
Biotech Giveaway Was Borrowed Money

Oh, it is going to cost you a billion-eight because of interest paid to banks, huh, Mass. taxpayers?


"Biogen Idec's clash with raider ends in chaos" by Robert Weisman, Globe Staff | June 4, 2009

CAMBRIDGE - Institutional shareholders have grown impatient with the recent lackluster performance of biotechs.... Biogen Idec chief executive James C. Mullen , speaking to investors during the annual meeting, which drew about 100 stockowners and investors, Mullen conceded the stock price has been disappointing. He blamed the slumping economy, concerns about drug safety, and jitters over the impact of healthcare reform efforts in Washington....

BULLSHIT!

See: Why You Are Getting National Health Care

Does the LYING EVER STOP here in Amurka!??????

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Also see: Slow Saturday Special: Biotech is a Bust

Biotech Bleeding Massachusetts Dry