Stockwatch: Supporting acts to the rescue
This article was originally published in Scrip
Three months ago, the resounding take-home message from the full year 2010 financial results three months ago was that the environment had not been good and caution surrounded 2011. That theme was mollified during the last week of April when a large number of biotech and pharmaceutical companies, big and small, reported better than expected first quarter 2011 financial results. However, reading between their (sales) lines, it was often not the pharmaceutical divisions amongst pharmaceutical companies that have snatched a recovery from the jaws of last year’s defeat.