BIO chief optimistic that most biotechs will survive recession

05/10/2009 | Boston Globe (tiered subscription model), The

Most biotech firms likely will survive the financial crisis despite a shortage in cash assets and the lack of investments brought about by the deep freeze in initial public offerings, BIO President and CEO James C. Greenwood said. In an interview with The Boston Globe, Greenwood also expressed support for the Obama administration's health care reform plan, saying a prioritization of innovation over cost reduction would benefit both the public and the industry.

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