I was referring to the labs rather than the test innovators. They have pricing pressure and commodity-like margins, and even the emerging pharmacogenetics/personalized medicine businesses do not promise to be a lot better in that respect. However, many of the smaller lab companies will get munched and that’s the interesting investment angle, IMO.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”