article in the australian today

Might be the reason for some of the dumping today....



http://www.theaustralian.news.com.au/story/0,25197,23762479-30538,00.html


TIM Murphy, a former high-profile lobbyist for the biotechnology industry, has had a rough initiation to the business of politics.

The former chief executive of the BioMelbourne Network was appointed senior adviser to Senator Kim Carr, the Minister for Innovation, Industry, Science and Research in February.

But he must have felt at least a twinge of regret when he learned that Treasurer Wayne Swan's so-called razor gang planned to axe the $200 million a year Commercial Ready grant scheme in the latest budget.

The program, introduced by the Howard government, had funnelled hundreds of millions of dollars into the coffers of small to medium-sized life-science companies, including HIV drug developer Avexa, adult stem cell researcher Mesoblast and medical device maker Optiscan Imaging.

We bet Murphy has copped a few phone calls from his old contacts.