Biotech Values

[DewDiligence]

GTC Gets anUdder Chance

http://www.businessweek.com/technology/content/jun2006/tc20060605_637881.htm

[Excerpts]

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It took years of trial and error for GTC to perfect the process and prove the resulting drug works in people. Along the way, the big-name partners pulled out and investors left GTC for dead. GTC's execs, however, never lost faith, not even after the European agency balked at the drug in February.

“It was disappointing, but it makes today all that much sweeter," Newberry says. "We have people who have devoted their entire careers to this product. We knew the data was there. It was just a matter of persistence.”

With its future now sporting a brighter hue, executives at GTC look forward to producing even more drugs in transgenic goats. The company's research pipeline includes treatments for malaria and solid tumors. And GTC's good news has boosted other companies that are developing transgenic animals.

Netherlands-based Pharming NV, which was near bankruptcy a few years ago, is developing five drugs in the milk of transgenic rabbits and cows. Its stock soared 15% on June 2. At this rate, Sweetheart and her transgenic buddies may take over the title of man's best friend.
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