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December 6, 2006
Drug Development is Broken, Part II
More investors are joining me in the broader conclusion that Pfizer's recent failed Phase II drug trial is another reminded that drug discovery isn't just hard, it's broken. At a recent conference, Highland Capital's Bob Higgins argued, like me, that this isn't "the last piece of bad news" for the sector given costlier drug development and stubbornly high failure rates for fractioning markets.
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