A licence to burn money
Article Abstract:
The American biotechnology industry is not a current favorite among investors. An estimate shows that it earned $4 billion in financings in 1998, which is 40% lower than the prior year's $7.1 billion. Moreover, the sector completed only 14 initial public offerings, which is down from the 27 in 1997. However, all is not bleak in the biotech community. Aggregate market capitalization of biotech stocks increased to around $150 billion in 1998, a higher figure than the $120 billion seen at the start of the year. A notable trend is that the 20 biggest companies accounted for two-thirds of the total industry capitalization, which means that investors are focusing on more profitable companies. The outlook for the industry is positive. It has learned how to adjust to lean conditions by merging or dropping projects. Moreover, venture capitalists and pharmaceutical companies always provide an financing alternative to public investors.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1999
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No need to cry for Argentina
Article Abstract:
Argentina's economy has been rebounding in the 1990s after being ruined by a succession of military regimes and their misguided economic policies over five decades. The country ranked as the world's sixth richest nation on a per capita basis in the 1920s, but slipped to just 30th in the 1980s when inflation soared to an annualized 5,000%. Democracy was restored in 1983 with the election of Raul Alfonsin. Rationality began to return to the economy with the election of current Pres. Carlos Menem in 1989. He and his economy minister successfully stabilized prices by introducing a currency board system. Menem has adopted other measures intended to revitalize the economy, including opening the economy to foreign competition, tightening monetary policy and embarking in the most ambitious privatization program in Latin America. Economic improvements are attracting foreign investors to the country.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1997
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Is it time to cell, cell, cell?
Article Abstract:
Developments in animal cloning since the production of a cloned sheep in 1997 are described. Focus is given to the commercial possibilities of cloning, as opposed to the ethical considerations.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 2000
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