Long ignored in favor of enterprise software, social networking and other sexy Internet technologies, biotech has roared back in the past year.
With drug companies desperate to replace expiring drug patents, and President Barack Obama’s new health care law demanding cuts in medical costs, Wall Street has shown a seemingly insatiable appetite for initial public offerings of stock. Last year’s 35 IPOs, including seven in the Bay Area, represented the most in the sector in nearly a decade. In the first two months of this year, 17 others have launched — shattering records.
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