Brian O'Connell

I wrote in the December 2005 issue of Streetalk that no matter who won the election between George Bush and John Kerry, the result would have been good news to the biopharm industry - if for different reasons. I said that with President Bush back in office for a second term, industry red tape would be diminished and the life sciences sector would shift into higher gear.

For years, the pharmaceutical sector has provided a safe haven for investors. I'm not so sure that will be the case in 2005.

The holidays are upon us. It's the time of year that begins with gala parties in December and ends when you finally realize what you spent, usually around April 15 of the next year. Too Scrooge-like? Hope not. I just partook of some bad eggnog.

Over the last five years, alternative investments have been the fastest growing investment strategy in institutional investment markets.

We've gone beyond the days when corporate America's idea of a healthy outing was a company softball game complete with beer and hot dogs.

The industry entered 2004 with a strong balance sheet - about $16 billion in cash and a wide-open pipeline full of new drugs and products.

Like any other financial venture, investing in PMPs requires both the patience of a saint and the ability to absorb some bad news and still hang in there.

According to a 2002 report by the consulting firm BioPerspectives, the protein biochip market will reach $700 million in sales by 2006.

Separate accounts. Personal portfolios. Call them what you will. In financial circles, they're hot.

The global market for biopharmaceuticals points to a healthy future for industry.