In Tamoxifen’s case, a drug first developed as a potential contraceptive languished for many years before its present application was found. Furthermore, its propensity to cause liver tumours in rats, a toxicity problem that thankfully does not carry over into humans, was not detected until after the drug had been on the market for many years. If it had been found in preclinical testing, the drug would almost certainly have been withdrawn from the pipeline.
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With few new drugs coming through the pipeline, significant investment is required to build a pipeline sufficient to support future growth, especially in light of patent expiries in 2007-9. Nevertheless, we see significant share price downside as unlikely.
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The caribou love it. They rub against it and they have babies. There are more caribou in Alaska than you can shake a stick at.
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As always, there's a couple of things in the pipeline - but that pipeline is a strange and ambiguous place.
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