Germany's Neuer Markt Shake Out
The Neuer Markt's fall from grace is more than a reflection of the global market slump. Having soared faster and higher than most other markets, Germany's growth exchange is now suffering the worst. And its recovery is likely to take longer.
You may also be interested in...
An overview of average market capitalization decline among European quoted biotech companies in the year beginning September 2001.
Dismal markets mean good opportunities for investors, says Michael Steinmetz, PhD, general partner at MPM Capital. But their preference for putting larger sums into more mature companies make Big Pharma spin-offs particularly attractive-especially in Europe.
Versicor had wanted to buy its partner Biosearch Italia for more than a year prior to July's deal. But it had to wait for its market capitalization to fall closer in line with that of the Italian biotech so that the transaction could qualify as a "merger of equals."