Fluff and nonsense
This article was originally published in Scrip
Executive Summary
The analysts, who have words for these occurrences, will no doubt call it a correction or an adjustment. But whatever its name, the huge loss of market value in the pharmaceutical and biotechnology sector in the past week should alert those in the life science to the fact that some of the optimism about the recovery of the healthcare companies has evaporated. Investors in publically quoted pharmaceutical and biotechnology companies have decided in their herd-like wisdom that they are now much more uncertain in August about healthcare companies than they were in July, doubly so for those companies with unproven track records.