Biotech industry tries to recover from 2-year lull.

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Abstract
The biotechnology industry has not fared well in the last 2 years. Company valuations and stock prices plummeted, clinical trial results disappointed, and financings became rare. Last July, both the American Stock Exchange and the NASDAQ Biotech Indexes sank to their lowest since late 1998. The American Stock Exchange Biotech Index fell 42% last year after rising 62% in 2000 and dropping 8.5% in 2001.