Analyst: 'Not Out of the Woods'
Macro Woes Could Impact Biotech Financing, M&A
By Trista Morrison
Monday, August 22, 2011
The picture isn't pretty: Stocks are down, unemployment is up and Standard & Poor's lowered its long-term sovereign credit rating on the U.S. to AA+ from AAA. Other downgrades followed, including Berkshire Hathaway and a slew of municipal bonds. Consumer spending dropped in June for the first time in about two years, prompting macroeconomists to lower their GDP estimates.
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