>>p.s. Do you have any further comments re #msg-24682767 (diminishing returns in drug discovery)?<<
No. I pretty much agree with your comments, except that I'm not convinced Big Pharma downsizing will be confined to SG&A rather than R&D. Somebody posted an article suggesting that Big Pharma could be going the way of Big Chemical which makes some sense. Sure there will always be money going into R&D to discover new drugs, but it may be a much smaller percentage than what we have today.
>>For instance, two of my large holdings (GTCB and MNTA) are companies whose proprietary technology helps society save money by offering existing drugs or slight variations of them at substantially lower costs than would otherwise be possible.<<
I agree with that strategy. Also there are still new 'continents' being explored - such as embryonic stem cells. That may be too early for productive investment at present, but there will be a time ...
What's the company that has the little barbell-shaped implant for near-sightedness? I wrote back and forth with them a couple of years ago and can't seem to find the e-mails now.
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