It may seem surprising, but tiny Iceland has produced two of the world's most innovative small drugs companies. By combining advanced gene-sequencing technologies with privileged access to the genetic data of Icelanders, DeCode Genetics pioneered the field of personal geno-mics. And Actavis, its compatriot, has grown from obscurity a few years ago through clever acquisitions and global investments into the world's fifth-largest generic drugs maker.rnIn normal times, these firms would be the toast of the town in Reykjavik. Iceland is an ideal place to study the link between genetic variations and diseases, as its population is ethnically homogenous and immigration has been limited. Alas, these are hardly normal times for the country, which is in the grip of a spectacular financial meltdown. DeCode, once a darling of technology investors, now faces the embarrassing prospect of getting kicked out of the NASDAQ stock exchange in America. It could be ousted next week if its market value does not climb back above $50m. Rumours are swirling that Actavis, which is controlled by an Icelandic investment group called Novator, may soon be put up for sale.
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