Time to Rethink the Rules of Biotech? Maybe, Maybe Not

Thiel, Karl
June 2009
BioWorld Today;6/8/2009, Vol. 20 Issue 108, p1
The author highlights a few events that occurred in the biotechnology industry in May 2009 that caused him to rethink some preconceived notions. He points out the growing popularity of reverse mergers as making initial public offering (IPO) becomes difficult. Particular focus is given to the acquisition by Johnson & Johnson of Cougar Biotechnology, along with the turnaround success of Vanda Pharmaceuticals. He also notes the presentation made by Carl Icahn and other investors to Biogen Idex shareholders about the shortcomings of its current management.


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