The New York Law Journal has an article (via law.com – free regist. req’d) on the wave of securities class actions that have hit the biotech industry. (The 10b-5 Daily has previously posted about the relevant 2003 filing statistics.) The article discusses a recent law firm survey and profiles several prominent cases, including the litigation brought against ImClone Systems and Regeneron Pharmaceuticals.
Quote of note: “The biggest concern for a life science company involves its handling of news related to its prominent drug. In an industry that relies on investors to fork over millions to high-risk investments, life science companies position themselves to attract investment dollars. In such an industry, companies must navigate carefully.”