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Forget the Hubs--When it Comes to the Drug Industry's Fortunes, it's Pure Vegas, Baby!
SUGAR LAND--August 8, 2012--Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--What city would best exemplify the Pharmaceutical-Biotech Industry? That would be Las Vegas. Yes, Las Vegas fits the bill, as the drug industry is a high-stakes gambler of the highest magnitude, with bets worth hundreds of millions of dollars. The long, treacherous road from initial studies to a new drug gaining U.S. Food and Drug Administration (FDA) approval resembles nothing so much as a billion-dollar ride on the roulette wheel. Recent examples include Elan Corporation (NYSE:ELN), which watched its fortunes plummet earlier this week after its once-promising Alzheimer's drug bapineuzumab was stopped dead in its tracks following failure to deliver in late stage trials.
Other companies featured: Johnson & Johnson (NYSE:JNJ), Pfizer (NYSE:PFE), Dendreon (NASDAQ:DNDN), Eli Lilly and Company (NYSE:LLY)
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Industry Segment: Pharmaceutical & Biotech
Word Count: 690 Words
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