Juliet said “What’s in a name? A rose by any other name would smell as sweet.” in the William Shakespeare classic Romeo and Juliet. The reality, however, seems to be a bit more harsher. At least for California based biotech company Isis Pharmaceuticals. They are quite well known for their cancer, neurological disorder and heart disease related drugs. The company was named after the Egyptian goddess “Isis”, a word that means good health. But their namesake terrorist group in the middle east which has rose to prominence in the last couple of years has the company scurrying for a new identity.
Until last year the company had denied any claims that a name change was being considered. The recent Paris attacks, however, have tilted the playing field considerably. Monday saw the Isis stock plummet 4% despite the market being bullish. Company’s vice president for corporate communications and investor relations D. Wade Walke said, “Even though people know we’re not associated with the terrorist group, the name itself has so many negative connotations, it’s obviously not getting better over time.”.
While Walke associated the price drop with Clovis Oncology, a rival whose shares nose dived 70%, the fact that a name change might be in order is quite evident at this point. Just like Isis Mobile Wallet changed its name to Softcard last year after the Islamic State terrorist group rose to prominence.
Image Courtesy: Mitchellthorp.org
Source: ABP News