| Russell survey says money managers are optimistic
A study by Russell Investments indicates that more than 40 percent of money managers surveyed say the current markets are "undervalued." The Tacoma-based asset management company said its "Investment Manager Outlook" survey found 42 percent of money managers said the markets were undervalued, up from 34 percent in the fourth quarter of 2007. The study also indicated that 26 percent of the managers surveyed said market returns will exceed 10 percent by year end. "Despite being beaten, battered and bowed, investment managers remain unbroken. Managers are resilient in their belief that government action will revive the economy, that U.S. equities have room to grow, and that equity performance will reclaim positive territory in 2008," said Erik Ristuben, Russell's managing director for client investment strategies, in a statement.
Medical tourism is waste of resources if poor not treated: Health Secretary
By Prashant K. Nanda, New Delhi, March 30 : Medical tourism might be the new buzzword for the burgeoning healthcare industry in India but one of the country's top health officials calls it a "waste of resources" if the money earned by private hospitals is not used to treat the poor. .
Drug-coated stents merit new studies, FDA says
More than a year after the multibillion-dollar market for drug-coated stents was first roiled by concerns about blood clots forming in the devices, the U.S. Food and Drug Administration issued recommendations Wednesday for better studies from manufacturers that might address both the blood clot issue and other safety questions. Among other things, the recommendations provide guidance for assessing the toxicity of the drugs used to coat stents — metal mesh tubes that doctors use to prop open heart arteries obstructed with blockages. Natick, Mass.-based Boston Scientific is the market leader in drug-coated stents and manufactures the products at a division based in Maple Grove. The company's worldwide sales of drug-coated stents — which dropped from $2.4 billion in 2006 to $1.8 billion last year — have been hurt both by the blood clot concerns and questions raised in medical studies about whether the devices have been overused.
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