Healthcare >> Sector Roundtables >> January 24, 2000

Roundtable Forum: Pharmaceutical Industry

SERGIO TRAVERSA is a Portfolio Manager with the Merlin BioMed Group focusing on the global pharmaceutical sector. He was previously a Managing Director in the Health Care Equity department of ING Barings U.S. and a Pharmaceutical Analyst with Mehta and Isaly and Mehta Partners. Prior to that he was associated with Johnson & Johnson and Eli Lilly. Mr. Traversa received a Doctor of Pharmacy degree from the University of Turin and an MBA from the Stern School of Business at New York University. Profile
Mara Goldstein is an Executive Director in Equity Research with CIBC World Markets, covering large capitalization pharmaceuticals and pharmaceutical technology companies. Prior to joining CIBC World Markets, Ms. Goldstein was an Equity Research Associate with BT Alex. Brown from 1991 to 1997, and was with CS First Boston in 1991. Ms. Goldstein received a BS from Purdue University in Economics with minors in Biochemistry and French. She has been quoted in numerous publications, including The Wall Street Journal, Investors Business Daily, Business Week and Fortune, and has also made appearances on CNBC, CNN and the CBS Evening News. Profile
Leonard S. Yaffe, MD is a Managing Director and Senior Research Analyst in the Health Care Group at Banc of America Securities. Previously, he was associated with Vincent Chelsey & Company and Gilford Securities. A Chartered Financial Analyst, he earned both his Bachelor's degree and his MD from Northwestern University. Profile
JEFFREY J. KRAWS is a Pharmaceutical Analyst at Gruntal & Company, L.L.C., focusing on large cap pharmaceutical, specialty pharmaceutical, drug delivery/distribution systems, biopharmaceutical and medical technology stocks. He was previously associated with EVEREN Securities, Bristol-Myers Squibb and Buckingham Research. Mr. Kraws received a BS from the State University of New York and an MBA from Cornell University. Profile
JEFFREY CHAFFKIN is a Managing Director with PaineWebber, Inc. Previously, he was associated with Aetna Health Plans and Arthur Andersen & Company. He received both his Bachelor's degree in Economics and his MBA in Finance from the Wharton School at the University of Pennsylvania. Mr. Chaffkin is married and has two children. Profile
HEMANT K. SHAH is President of HKS & Company in Warren, New Jersey. Previously, he was associated with Mabon Nugent, Nomura Securities, Pfizer, Merck, and Glaxo. Mr. Shah holds both Bachelor's and Master's degrees in Industrial Pharmacy from the University of Bombay. He also holds Master's degrees in Business Administration from The London Business School at the University of London and New York University. Mr. Shah is married, has two children, and includes traveling, boating, and wine collecting among his personal interests. Profile
TWST: Mara, how did the pharmaceutical stocks perform in 1999 '- as a

group and compared to other sectors of health care?

Ms. Goldstein: In terms of stock price performance, the group turned