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Publication Forecasts Third Of Australian Biotechs May Close This Year

This article was originally published in PharmAsia News

Executive Summary

Australian biotechs are suffering greatly because of a drop in available investment money. Some report deals that have been canceled, assets that had to be sold and other moves to reduce spending so they can survive. Bioshares, which researches biotechnology companies for a quarterly index, expects nearly a third of the 90 companies on its list to fail this year. Survival Index co-founder David Blake estimates 20 to 30 firms likely to go under and a "leaner, meaner sector" to be the result. (Click here for more
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