Biotech to be Profitable — Again

These sorts of stories are basically tailor-made to be keepers for future ridicule. An E&Y study out this week has the WSJ, among many other papers, trotting out silly headlines like the following:

Biotech Industry Seen Profitable in 2008
The biotechnology industry, which loses billions of dollars every year in a research-intensive quest for medical advances, may finally be on the cusp of profitability, a new report says.