Stockwatch: The end of the affair with gene therapy
This article was originally published in Scrip
The End of the Affair, a 1951 novel by Graham Greene, depicts some of the worst human emotions that can accompany the ending of a relationship, and then after a break of two years, the re-ignition of those emotions in an investigative post-mortem. Way back at the start of this century I invested in a gene therapy company. Although the inevitable end of the affair caused me some heartache, unlike the principal characters in Mr Greene's classic novel I found it a valuable cathartic learning experience to have lost some money in this unproven area of biotechnology.
You may also be interested in...
Alexion is a case study in the travails faced by a biotech with a single blockbuster as it tries to maintain its scale and transform itself into a sustainable business, without blowing billions on bad M&A.
As generalist investors continue to push higher the stock prices of biotech companies that announce the most tenuous of coronavirus developments, the track record of biotech companies developing even vaccines for which the antigen is proven to be safe and efficacious remains poor.
Following Mylan’s first-quarter 2020 earnings announcement, all the biggest generic pharmaceutical companies have now reported. Concerns about supply chain disruptions in March have proven to have been overblown and guidance has largely been reaffirmed. So, are generics immune from coronavirus?