In spring 2000, three events—two political statements by Bill Clinton and Tony Blair and a breakthrough announcement by Celera Genomics—had a major impact on biotechnology stocks. We analyze their effects over a comprehensive set of biopharmaceutical companies, using a composite...

In spring 2000, three events-two political statements by Bill Clinton and Tony Blair and a breakthrough announcement by Celera Genomics-had a major impact on biotechnology stocks. We analyze their effects over a comprehensive set of biopharmaceutical companies, using a composite...