Main Story - Biosimilars - pgs. 1-13
Macro Market Commentary - "On the brink..." - pgs. 14-18
BSR Coverage Update - pgs. 19-32
BSR Model Portfolio Update - pgs. 32-33

In this month's issue of Biotech Monthly, we take time to summarize the current situation with biosimilars. With a certain change in administration coming in January 2009, we thought it appropriate to highlight high-level biotech macro changes like this one. A tumultuous economy, an FDA in flux, economic strains inside pharma, and other issues should make the end of this decade a wild one for the healthcare industry.

Forgive us if we start with an easier one like biosimilars. Getting our heads around issues like healthcare reform or trying o understand how the current rogue FDA will (or will not) settle into a grove are harder issues.

That's not to say the biosimilar issue is not without complication. There are a number of competing plans and which one -- or which components -- come forward makes a significant difference to the valuations of biotech companies.

We also update our coverage of the following companies in our coverage universe:

Adolor (ADLR)
BioMarin (BMRN)
Corcept (CORT)
Dendreon (DNDN)
Discovery Labs (DSCO)
Dynavax (DVAX)
Hana Biosciences (HNAB)
Indevus (IDEV)
Medarex (MEDX)
Osmetech (London:OMH)
Resverlogix (Toronto:RVX)
SciClone (SCLN)
ZymoGenetics (ZGEN)