PRINT THIS PAGE BioForum06/08/2002. Source: PricewaterhouseCoopers.
The life sciences industry remains a long way from staging a full recovery, according to the PricewaterhouseCoopers BioForum report for June 2002. Australia and the US have been particularly affected, even after positive second quarter figures suggested an upturn was imminent. The survey reveals that investors are extremely cautious given the decrease in FDA approvals and disappointing clinical trial results.
The life science industry in Australia has recently experienced management and board shake-ups and profit warnings that have worried investors. These have combined to provide an air of caution within the industry. With only one IPO so far this quarter it comes as little surprise. Yet there have been a few signs of promise as the amount of secondary capital raised this quarter was nearly double that of Q2 and private equity investment remains strong.
Copyright © 2002 PricewaterhouseCoopers
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