Welcome to Industry Focus, the podcast that dives into a different sector of the stock market every day.

It's Wednesday, September 27th, and we're talking about two stories,

Axemen's massive Alzheimer's Flop and the biologics controversy

swirling around Johnson and Johnson and Pfizer. I'm your host Michael Douglas.

Filling in for Christine Harjus this week who's about halfway through her big Greek vacation, and I'm

joining the studio, as always, by Todd Campbell.

Todd, great to be talking to you today.

Hi Michael, thanks for having me today.

Absolutely. Well, really more, it's me thanking you for having me today. Absolutely.

Well, really more, it's me thanking you for having me, since you're on the show a lot more often than I am.

But I'm glad to be here and I'm glad we get to talk to.

There are two really very interesting and very different stories.

So let's dive right in.

Accident.

You know, well, yeah, well, and let's not bury the lead. There was definitely a big flop. But let's start actually by talking

about everything that seemed to be going right for them beforehand, because I think that's really

the key part of the story is that things in a lot of ways looked as much as they can be whenever

someone studying Alzheimer's pretty good for accident.

You know Michael as investors I think you and I probably agree.

Ideally, we'd love to catch stocks, pick winners early on, right?

Right.

And, but in biotech, oftentimes it seems like it's akin to buying a scratch-off ticket.

...