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Mead sale no bellwether for startups

Posted on February 12, 2009 9:36 AM
Mead Johnson Nutrition Co. went public successfully Wednesday, but it is still far too early for venture-backed startups and their exit-minded investors to start celebrating a return of the IPO market.

The Evansville, Ind., infant formula company, still 85% owned by parent Bristol-Myers Squibb Co. of New York, priced at the top of its expected range and saw shares rise in its first day of trading. But the outlook for the initial public offering market, crucial to the financial health of biotech and high-tech startup firms, is no better than before.

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