Triage in Health Care

Though many industries are hoping for better times for U.S. initial public offerings, young health-care companies, in particular, have a lot at stake.The IPO market has been rocky since early May, and pharmaceutical, biopharmaceutical and medical-device firms have been completely absent from the roster since late April. The last deal seen, Sagent Pharmacueticals Inc., rose 24% on its first day of trading.The Dow Jones Industrial Average slipped into six consecutive weeks of declines soon after, and IPO pricings became ...

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