Wood­ford gets slammed with a bru­tal set of port­fo­lio hits, as North­west con­tin­ues to fes­ter

Neil Wood­ford is find­ing out the hard way just how dif­fi­cult it is to set up a new fund with big in­vest­ments in bio­phar­ma. Af­ter its as­set val­ue plunged about 11%, his sum­ma­ry on H1 2016 notes two un­ex­pect­ed set­backs – key tri­al fail­ures for Cir­cas­sia and Alk­er­mes – along with one self-in­flict­ed wound on North­west Bio­ther­a­peu­tics.

North­west has seen its share price dwin­dle down to a pen­ny stock side show af­ter the com­pa­ny was hit with re­peat­ed al­le­ga­tions of self-deal­ing. Its lead drug pro­gram is al­so ev­i­dent­ly in lim­bo and the biotech’s CEO, Lin­da Pow­ers, even spurned Wood­ford’s sug­ges­tion for a trust­ed in­ves­ti­ga­tor who could do an in­de­pen­dent probe.

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