Europe: Maybe enough cash

1Q Financial Markets Review

Throughout Europe valuations have tumbled across the board, with BioCentury's London Index no longer defying gravity, and blue chip biotechs like Celltech Group plc (LSE:CCH; CCL, Slough, U.K.), Shire Pharmaceuticals Group plc (LSE:SHP; SHPGY, Basingstoke, U.K.) and Qiagen N.V. (NMarkt:QIA; QGENF, Venlo, the Netherlands) reflecting the general demise. While prices have bounced somewhat of late, the prospects aren't encouraging for cash-poor companies...