[ noun ] any of the branches of natural science dealing with the structure and behavior of living organisms <noun.cognition>
SG WARBURG, the global co-ordinator for the rights issue for Zeneca, Imperial Chemical Industries' bioscience business, is testing the market with a rights price of about 600p. Opinions differ whether investors would be willing to accept that price.
Now, following decentralisation, retrenchment and the demerger of Zeneca, ICI's bioscience offshoot which has moved to new premises, there are only 240 people based at Millbank.
But according to BZW, the bioscience sector's 'hit rate' is not as low as many believe.
Japan also is proposing an international joint effort in basic bioscience, which it calls the Human Frontier Science Program.
But without the cash flow from the bioscience side, it cannot afford expensive mistakes. While Mr Miller Smith will not bring specialist knowledge to investment decisions, ICI is not short on chemicals industry experience.
The bioscience businesses would then issue shares to clear their debt and raise cash for possible acquisitions. Sir Denys warned that the pharmaceutical division's operating profits next year would be flat.
Meanwhile, Zeneca, ICI's former bioscience business, entered the FT500 at 52. In 1992, the chemicals industry performed better than the drugs sector as investors switched into cyclical stocks.
Its titanium dioxide and caustic businesses are struggling but chemicals and polymers are expected to post significant improvements. Zeneca, ICI's former bioscience business, also reports its half-year results on Thursday.