Israel’s Growing Bio Sector
by Bernard Dichek
BioIsrael.com
Biotech investors who only track the US and European stock exchanges may be missing out on fast-growing companies on the Tel Aviv Stock Exchange. In recent years close to 30 Israeli life science companies have started to trade on the TASE. They follow in the giant footsteps of Jerusalem’s Teva Pharmaceuticals (TEVA), the largest generics company in the world which trades both on the TASE and NASDAQ. One promising new venture is Bio-Light Life Science Investments (BOLT.TA), a holding company with technologies for treating obesity, glaucoma, asthma and diagnosing cancer. All four Bio-Light companies are in or approaching clinical trials.
One portfolio company, Obecure, is developing Histalean TM, a drug for weight management that recently was tested on obese patients in a Phase II study. The U.S. study showed that the drug was more effective on women than men, with pre-menopause women (under the age of 50) showing an especially significant weight loss in comparison to the placebo group. The company plans a Phase IIB study for obese pre-menopausal women patients in early 2008.
“All the currently marketed anti-obesity drugs have serious side effects which limit their use,” says Obecure CEO Yaffa Beck, who points out that Histalean TM is based on an active ingredient that has been used extensively for another indication (vertigo) in more than 100 million people, with an excellent safety record.
In other studies Obecure is collaborating with the NIH and Eli Lilly. The study supported by Eli Lilly is a Phase II trial to see if Histalean TM can prevent the weight gain often experienced by patients taking the anti-psychotic drug Zyprexa. (The weight gain has caused Eli Lilly to pay out more than $500 million in patient lawsuits).
The market here is also enormous. About one percent of the US population is currently taking anti-psychotic medications costing about $7 billion.
IOPtima, which is developing a laser-based technology to treat glaucoma, also expects to reach major milestones in the next 12 months. The company plans in December to begin a clinical trial in Mexico, which will expand to include major opthalomology centers in the US and Europe in early 2008. IOPtima expects its therapy to become the gold standard for glaucoma, a $3 billion market that currently encompasses both medications and surgery.
“Medications are not always efficacious, and often fail due to poor patient compliance , as two or three different types of eye drops need to be taken permanently two or three times a day,” says Joshua Degani, IOPtima’s CEO, pointing out that he expects IOPtima’s non-penetrating technology to overcome the risk of infections and other complications associated with the common invasive glaucoma surgery.
Allergica, which is developing a platform technology for allergy and inflammation, has completed formulation development and is now pursuing pre-clinical toxicology evaluation, for entry into Phase I/II safety trials for asthma and a skin allergy in humans in late 2008. “Allergica’s technology is a based on a novel paradigm for treating allergy and inflammation, with a wide ranging from asthma to atopic dermatitis to hayfever,” points out Ronit Gross, Bio-Light’s Director of Business Development.
Zetiq is targeting the cancer diagnostics market, with a technology that could replace currently used tests such as the Pap smear test which is used on more than 100 million women each year. Zetiq plans a pilot study for cervical cancer for early 2008 and a clinical study in Q2.
Dr. Ami Eyal, Bio-Light’s CEO points out that the strength of the Bio-Light portfolio lies both in the diversification and advanced stage of product development. “Each product is targeting a separate market with blockbuster potential,” he said.
BioIsrael is a regular contributor to BioHealth Investor
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Investing in MRSA
by Michael Shulman
BiotechBlitz
Sounds cold, but how can you make money on the superbug that is now scaring school administrators and public health officials all round the country?
It’s a big market – an article published this week in Journal of the American Medical Association said about 17,000 people die form MRSA each year, about 90,000-95,000 are infected. There are not many investment opportunities – but some background first.
MRSA, which stands for Methicillin-resistant Staphylococcus aureus (MRSA), is the killer super bug found in hospitals but now spreading to schools, gyms and other places where people sweat, spill blood and congregate. The disease is treatable, especially when caught very early, but is highly resistant tro conventional anti-biotics. The standard of care as things progress is a drug called Vancomycin.
On Oct. 1, Medicare said it would stop paying for hospital mistakes, including hospital-based infections, except MRSA, as the industry said it was too hard to eradicate. That’s nonsense. Many European countries have very-low incidences of MRSA and the Verterans Affairs is rolling out a national program based on a pilot program that reduced it by roughly 75%. That being said, the Medicare changes put infecitons on everyone’s radar, and now that a teenager has died in Virginia (outside of our nationa’s capital) people are taking notice.
Where to invest? Some options:
Testing: You have to test to find the bug and get rid of it, and hospitals are ramping up testing for MRSA, led by the VA. Look at Cepheid (CPHD), it dominates this market and has tripled already.
Treatment: Vancomycin is not really investable but new verisons of Vancomycin and other new antiobiotics might be. Check out Basilea – it is working on an antiobiotic called Ceftobiprole in partnership with a Johnson & Johnson (JNJ) subsidiary. The drug is in late stage trials for infections and is pending approval for severe skin infections.
Cadence (CADX): This recent IPO is working on an ointment, sort of, that would be applied when a catheter is inserted, and it heads off infections. Catheter infections are now going to be paid for by hospitals, not Medicare (and probably other payors will refuse as well), so there will be a great deal of interest once it gets approval, if it does in late 2009 or early 2010.
Can you imagine how active MRSA will all get once the tort lawyers discover it?
BiotechBlitz is a regular contributor to BioHealth Investor
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Friday’s Top Biotech & Medical Stocks
by H.S. Ayoub
BioHealth Investor
Biotechnology
REXAHN PHARMACEUTICL [RXHN.OB] +17.39%
CERAGENIX PHARMACUTL [CGXP.OB] +9.23%
PIPEX PHARMACEUTALS [PP] +7.17%
OPEXA THERAPEUTICS [OPXA] +7.09%
XTL BIOPHARMACEUTICA [XTLB] +5.96%
Diagnostic Substances
INTERLEUKIN GENETICS [ILI] +5.38%
[IMRX] +2.22%
ORCHID CELLMARK INC [ORCH] +1.77%
REMOTEMDX INC [RMDX.OB] +1.72%
ISTA PHARMACTLS [ISTA] +1.22%
Drug Delivery
ACURA PHARMACEUTICAL [ACUR.OB] +8.02%
INSITE VISION INC [ISV] +5.99%
GENEREX BIOTECH CORP [GNBT] +4.60%
QUIGLEY CORP THE [QGLY] +2.85%
ARADIGM CORP [ARDM.OB] +0.74%
Drug Manufacturers
OSCIENT PHARMACEUT [OSCI] +20.01%
SANTARUS, INC. [SNTS] +3.76%
TAPESTRY PHARMA INC [TPPH] +3.31%
UNIGENE LABS INC [UGNE.OB] +1.74%
WARNER CHILCOTT LTD [WCRX] +1.58%
Drug Related Products
CURATECH INDUSTRIES [CUTC.OB] +32.43%
LABOPHARM INC. [DDSS] +6.47%
PACIFICHEALTH LABS [PHLI.OB] +4.35%
NATROL INC [NTOL] +2.94%
DRAXIS HEALTH INC [DRAX] +0.95%
Generic Drugs
HELICOS BIOSCIENCES [HLCS] +9.19%
Medical Appliances & Equipment
[ECTE.OB] +11.76%
WORLD HEART CORP [WHRT] +6.91%
RESTORE MEDICAL INC [REST] +5.47%
INTUITIVE SURG INC [ISRG] +5.03%
SIGNALIFE INC. [SGN] +3.68%
Medical Instruments & Supplies
KENSEY NASH CP [KNSY] +5.12%
NMT MEDICAL INC [NMTI] +4.48%
BOSTON SCIENTIFIC CP [BSX] +4.12%
NEPHROS INC. [NEP] +3.94%
CARDIAC SCIENCE CORP [CSCX] +3.90%
Medical Laboratories & Research
AETERNA ZENTARIS [AEZS] +7.07%
NEOGENOMICS INC [NGNM.OB] +2.96%
GENOMIC HEALTH, INC. [GHDX] +2.64%
NATL DENTEX CP [NADX] +0.41%
RADNET INC [RDNT] +0.22%
- Thursday’s Top Biotech & Medical Stocks
- Tuesday’s Top Biotech & Medical Stocks
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Thursday’s Top Biotech & Medical Stocks
by H.S. Ayoub
BioHealth Investor
Biotechnology
CHAMPIONS BIOTECHNLG [CSBR.OB] +20.67%
HANA BIOSCIENCES INC [HNAB] +17.97%
ASPREVA PHARMACEUTIC [ASPV] +13.82%
NEURALSTEM INC [CUR] +7.37%
AMERICAN ORIENTL BIO [AOB] +7.14%
Diagnostic Substances
SCOLR PHARMA INC [DDD] +4.88%
[IMRX] +3.85%
REMOTEMDX INC [RMDX.OB] +3.24%
PRESSURE BIOSCIENC [PBIO] +2.69%
LEXICON PHARMACEUTCL [LXRX] +2.19%
Drug Delivery
ULURU INC [ULU] +3.33%
ELAN CP PLC ADR [ELN] +2.48%
PENWEST PHARM CO [PPCO] +2.28%
GENEREX BIOTECH CORP [GNBT] +2.02%
PETMED EXPRESS INC [PETS] +1.49%
Drug Manufacturers
SANTARUS, INC. [SNTS] +7.58%
TELIK INC [TELK] +6.41%
JAVELIN PHARMACEUTIC [JAV] +6.12%
NEUROLOGIX INC [NRGX.OB] +5.94%
SYNVISTA THERAPEUTIC [SYI] +5.93%
Drug Related Products
TIENS BIOTECH GR USA [TBV] +4.13%
NATURAL ALTERNATIV [NAII] +3.05%
MEDICAL NUTRITN USA [MDNU] +1.83%
SCHIFF NUTRIT INTL [WNI] +1.74%
NATROL INC [NTOL] +1.66%
Generic Drugs
WATSON PHARMACEUTCLS [WPI] +1.11%
BARR PHARMA INC [BRL] +0.13%
CATALYST PHARMACEUTI [CPRX] +0.01%
Medical Appliances & Equipment
FONAR CORP [FONR] +24.49%
LECTEC CORP [LECT.OB] +16.00%
[ECTE.OB] +13.33%
INTUITIVE SURG INC [ISRG] +8.33%
REFLECT SCIENTIFIC [RSCF.OB] +6.90%
Medical Instruments & Supplies
NUCRYST PHARMACEUTIC [NCST] +9.91%
ARISTOTLE CP [ARTL] +8.54%
BAXTER INTL INC [BAX] +7.74%
CRYOCOR, INC. [CRYO] +7.39%
OPHTHALMIC IMAGING SYS INC [OISI.OB] +6.25%
Medical Laboratories & Research
ALLIANCE IMAGING INC [AIQ] +4.68%
NEOGENOMICS INC [NGNM.OB] +3.85%
PHARM PROD DEV [PPDI] +1.78%
GENOMIC HEALTH, INC. [GHDX] +1.34%
ARRAY BIOPHARMA IN [ARRY] +1.30%
- Tuesday’s Top Biotech & Medical Stocks
- Monday’s Top Biotech & Medical Stocks
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Inverview: Jonathan Houssian, Founder of RxElite
by H.S. Ayoub, DMD
BioHealth Investor
Jonathan Houssian, President and Founder of RxElite (SOUT.OB) discusses the company’s generic drug business in a changing political climate, and outlines upcoming financial milestones for investors.
Give us a brief historical overview of RxElite; its incorporation and business focus.
(JH) In 2000, I founded RxElite with a vision for changing how Generic Drug manufacturers operate. RxElite develops, manufactures, and markets generic prescription drug products in specialty generic markets. These markets include areas of anesthesia, sterile liquid dose drugs (including respiratory inhalation drugs, ophthalmics, and injectable drugs), and transdermal patch products.
RxElite uses very focused selection criteria to enter a new market and produce a generic drug. We seek opportunities where we will potentially face two to five competitors to ensure price stability and then seek to capture between 10 and 15% of market share. Competition is limited in these segments of the generic pharmaceutical industry because of process patenting or unique expertise in a particular area.
Our strategy then, is to find areas of limited competition characterized by high barriers to entry, limited competition, and stable market opportunities. We then leverage our distribution strength by partnering with low cost-high quality international generic drug producers. The major buyers in the United States are our customers and we have purchasing agreements that can reach up to 95% of the generic drug market.
Strategy is nothing without execution. Generic drugs are commodity items sold on three variables: price, deliverability, and quality. We maintain price by intense focus on maintaining low cost operations, not by cutting quality. RxElite maintain deliverability by focusing on the customer’s needs. We have 100% service levels for 76 of 81 months of uninterrupted supply. To ensure quality, we maintain our own QA/QC programs, with thorough product, vendor, partner, and internal audits.\
How does the company predict the political environment of the coming US presidential race will affect its generic drug business?
Health Care in general and specifically the cost of providing health care will likely be significant topics in the next national elections. Generic drugs for use in the United States have a bi-partisan appeal with a win for the consumer and for health care providers because they allow the market to adjust the price of health care. With regard to specific parties, the GOP looks to make healthcare more accessible and affordable to all Americans. They seek to do so by market forces which favor generic drugs. This is most evident in the GOP approach to Healthcare Savings Accounts. The Democratic Party also favors reducing health care costs for the average consumer. Every plan for health care put forward by the major candidates for the Presidential election favor expanding generic drug availability.
Does the company have any operations outside the U.S.?
Alkem and Zach S.pA. are currently two of RxElite’s overseas partners. Alkem, based in India, produces oral solid products in a partnership with RxElite. Zach has operations in Europe, South America and Asia and is a producer of fine chemicals. In addition, we are partnered with Stason Pharmaceuticals for production of a solid oral dosage product in China.
Please introduce us to Sevoflurane. What expectations does the company have for its market performance over the next year or so?
Administration of an Inhalation Anesthetic is a routine part of general anesthesia for both inpatient and outpatient surgery. Sevoflurane, an inhalation agent, is especially useful for outpatient anesthesia. It is highly fluorinated, which results in a lower blood solubility than Isoflurane or Halothane. This leads to faster elimination from the body and quicker recovery from anesthesia.
Another result of the lower solubility of Sevoflurane is that of a more rapid rate of rise of the alveolar concentration toward the inspired concentration. This allows a greater degree of control over the depth of anesthesia. At any given fresh gas flow rate the less soluble anesthetic will have a lower uptake and will therefore be controlled more precisely. The lack of airway irritation and low solubility of Sevoflurane results in a rapid inhalation induction. It has a low incidence of respiratory complications and provides a quality of induction judged to be similar to or better than that of Halothane. (Outpatient Anesthesia
Dennis E. McCarthy, M.D., as show at http://www.dcmsonline.org/jax-medicine/1998journals/december98/outpatient.htm on 9/28/07)
According to Oppenheimer’s company update report for Minrad (BUF), who is RxElite’s strategic partner, the market for Sevoflurane is expected to grow 11-15% per year. RxElite intends to capture 15% of what is currently a $400 million market. As of this writing, pricing remains strong. Strong price is an indicator of another successful selection by RxElite marketing only those generics with process patent protection and other high barriers to entry for other competitors. In the case of Sevoflurane, RxElite through their Minrad partnership have a third process patent. Most members of the pharmaceutical community agree that a fourth process would not likely pass through an infringement challenge by the current three patent holders.
What are RxElite’s current partnerships, and what milestones does the company expect to reach with its partners over the next few years?
We have an aggressive and full pipeline.
In the area of Anesthetic Gases, we partner with Minrad. We have exclusive rights to market their products under our name in the United States. We expect Desflurane, which has a $200 million plus market in 2008 / 2009. This is largely based on expectations of FDA approval to market the generic. This is a very attractive competitive landscape with 1 competitor until 2011 due to process patents and limited global manufacturing for all anesthetic gases.
Rxelite intends to take full advantage of our knowledge and experience in the sterile generic drug areana both inside and outside Blow-Fill-Seal Manufacturing. RxElite in partnership will enter the sterile drug markets in 2010 and continue to build on our experience and credibility in this area.
We are currently developing 2 sterile ANDA’s to be filed in 2008, and have 5 more in various stages of development. We have identified an additional 30 products that can work in this format including the ability to put injectibles in plastic. .
For Transdermal Patches, we have Core Tech Solutions as our exclusive manufacturing (at cost, with profit share) partner for transdermal patch products. We expect Fentanyl patch expected to launch in late 2009. This is currently a $1.6 Billion dollar market and we have every intention of capturing an 8 to 10% of market share.
Please briefly outline the competitive companies and their products expected in the near future, and how RxElite plans on staying on top of the market?
We do not intend to dominate the generic drug market. It is in fact our intention to move into areas where larger companies such as Abbott and Baxter are not. We also intend to limit our market share in order to maintain price stability.
How has the company established such a large distribution network for its generic drug products?
Our company was founded on the notion that generic drugs are commodity products, where price, deliverability and quality are the driving factors of success. We have always put the customer first both in terms of transparency of our operations to them and in making sure that we regard the delivery of an item as complete when it arrives at the customer’s distribution center, not when it leaves our warehouse.
What can investors look forward to over the next few years in terms of the company’s equity value, revenue, and profitability?
We expect a small profit next year, assuming our current path remains open and that in three years, to be at or above $250 million in revenues, with attendant profit. Our company should be regarded as a significant growth investment.
The company’s shares just began trading on the bulletin board recently, with a relatively low float. Does RxElite have a timeframe for a possible move to a national stock exchange such as the AMEX or NASDAQ?
We have filed to become listed on the American Exchange. This is a process that we may complete early or defer to a later time. We certainly intend to keep that as one of our objectives.
RxElite is listed in the BioHealth Investor Company Directory
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Tuesday’s Top Biotech & Medical Stocks
by H.S. Ayoub
BioHealth Investor
Biotechnology
REPROS THERAPEUTICS [RPRX] +18.27%
CHAMPIONS BIOTECHNLG [CSBR.OB] +15.74%
EXACT SCIENCES COR [EXAS] +9.26%
CERAGENIX PHARMACUTL [CGXP.OB] +7.69%
VANDA PHARMACEUTICAL [VNDA] +7.27%
Diagnostic Substances
IMMUNOMEDICS INC [IMMU] +26.56%
ASPENBIO PHARMA INC [APPY] +8.19%
[IMRX] +7.97%
IMMUCELL CP [ICCC] +6.01%
PRESSURE BIOSCIENC [PBIO] +2.94%
Drug Delivery
COLUMBIA LABS INC [CBRX] +2.16%
MATRIXX INITIATVS [MTXX] +2.04%
PETMED EXPRESS INC [PETS] +1.45%
NEKTAR THERAPEUTIC [NKTR] +0.87%
BIOVAIL CORP [BVF] +0.74%
Drug Manufacturers
PROVECTUS PHARMA [PVCT.OB] +8.53%
NEUROCHEM INC [NRMX] +8.20%
NEURO-HITECH INC [NHPI] +6.93%
PHARMACYCLICS INC [PCYC] +3.95%
ACUSPHERE INC [ACUS] +3.47%
Drug Related Products
USANA HEALTH SCIEN [USNA] +3.67%
SCHIFF NUTRIT INTL [WNI] +2.88%
LABOPHARM INC. [DDSS] +2.78%
PERRIGO COMPANY [PRGO] +1.30%
DRAXIS HEALTH INC [DRAX] +0.94%
Generic Drugs
LOTUS PHARMACEUTICAL [LTUS.OB] +10.71%
HELICOS BIOSCIENCES [HLCS] +8.66%
ISOLAGEN INC [ILE] +0.61%
CATALYST PHARMACEUTI [CPRX] +0.51%
CARACO PHARMA LABS [CPD] +0.50%
Medical Appliances & Equipment
HANSEN MEDICAL, INC. [HNSN] +7.12%
SIGNALIFE INC. [SGN] +5.86%
IVIVI TECHNOLOGIES, [II] +5.21%
SYMMETRY MEDICAL INC [SMA] +4.77%
IRIDEX CP [IRIX] +3.88%
Medical Instruments & Supplies
NEPHROS INC. [NEP] +25.00%
RETRACTABLE TECH INC [RVP] +6.66%
PRO-DEX INC NEW [PDEX] +5.93%
NMT MEDICAL INC [NMTI] +3.97%
STEN CORPORATION [STEN] +3.20%
Medical Laboratories & Research
ENZO BIOCHEM INC [ENZ] +13.37%
INSIGHT HLTH SVC HLD [ISGT.OB] +3.45%
BIO-REFERENCE LAB [BRLI] +1.34%
SPHERIX INC [SPEX] +1.13%
ARRAY BIOPHARMA IN [ARRY] +1.04%
- Monday’s Top Biotech & Medical Stocks
- Friday’s Top Biotech & Medical Stocks
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Monday’s Top Biotech & Medical Stocks
by H.S. Ayoub
BioHealth Investor
Biotechnology
BIOGEN IDEC INC [BIIB] +18.84%
SEQUENOM INC [SQNM] +14.46%
EXACT SCIENCES COR [EXAS] +13.84%
VIA PHARMACEUTICALS [VIAP] +12.50%
CERAGENIX PHARMACUTL [CGXP.OB] +11.11%
Diagnostic Substances
IMMUNOMEDICS INC [IMMU] +11.30%
INFINITY PHARMACEUTI [INFI] +2.93%
ISTA PHARMACTLS [ISTA] +1.75%
ICAGEN, INC. [ICGN] +1.08%
IDEXX LABS [IDXX] +1.06%
Drug Delivery
ELAN CP PLC ADR [ELN] +8.14%
INSITE VISION INC [ISV] +4.36%
COLUMBIA LABS INC [CBRX] +3.35%
ACURA PHARMACEUTICAL [ACUR.OB] +2.99%
QUIGLEY CORP THE [QGLY] +2.71%
Drug Manufacturers
SYNVISTA THERAPEUTIC [SYI] +16.37%
TELIK INC [TELK] +13.87%
ARQULE INC [ARQL] +6.41%
LANNETT COMPANY INC [LCI] +5.57%
DYNAVAX TECHNOLOGIES [DVAX] +4.00%
Drug Related Products
NATURAL ALTERNATIV [NAII] +5.56%
INTEGRATED BIOPHARMA [INBP] +2.04%
PRESTIGE BRAND HLGS [PBH] +1.09%
NATROL INC [NTOL] +0.98%
SALIX PHARM DEL [SLXP] +0.71%
Generic Drugs
LOTUS PHARMACEUTICAL [LTUS.OB] +7.69%
CATALYST PHARMACEUTI [CPRX] +4.58%
ISOLAGEN INC [ILE] +1.55%
Medical Appliances & Equipment
ECHO THERAPEUTICS [ECTE.OB] +15.62%
SRI/SURGICAL EXPRE [STRC] +7.74%
IRIDEX CP [IRIX] +7.69%
SYNOVIS LIFE TECH [SYNO] +5.95%
SONIC INNOVATIONS [SNCI] +4.95%
Medical Instruments & Supplies
VYTERIS INC [VYHN.OB] +18.29%
ALPHATEC HOLDINGS [ATEC] +9.01%
CHINA MEDICAL TECH [CMED] +7.53%
MERIT MEDICAL SYS [MMSI] +6.81%
BIOTEL INC [BTEL.OB] +6.67%
Medical Laboratories & Research
BIO-IMAGING TECH [BITI] +8.57%
AETERNA ZENTARIS [AEZS] +4.81%
ARRAY BIOPHARMA IN [ARRY] +1.59%
GENOMIC HEALTH, INC. [GHDX] +0.29%
- Friday’s Top Biotech & Medical Stocks
- Thursday’s Top Biotech & Medical Stocks
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Genentech’s Dribble (DNA)
by Jon C. Ogg
24/7 Wall St.
Genentech (DNA) posted $0.73 EPS vs $0.72 estimates, but revenues were $2.95 Billion versus a $2.93 Billion estimate. It looks like 3 of the 4 major drugs came in under expectations, with Avastin being the only above-plan seller. Here was our preview ahead of earnings.
U.S. product sales were $2.155 Billion, an 18% increase year over year. As far as guidance, Genentech continues to expect 28% to 32% growth in non-GAAP earnings per share for the full year 2007, relative to 2006, for a range of $2.85 to $2.95. unfortunatel, and at least for the time being, the street has paid much closer attention to those revenue figures.
Shares closed up 0.3% in normal trading, but shares traded down about 2% at $76.00 in the initital after-hours trading reaction before recovering a bit of the losses. Until the company clarifies its sales and expectations and until it gives more formal guidance in the conference call, this one should only be considered a partially-known earnings report.
Continue reading article at 24/7 Wall St.
24/7 Wall St. is a regular contributor to BioHealth Investor
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China Medical Receives Approval for HIFU Device in Korea
by Richard Daverman, PhD
ChinaBio Today
China Medical Technologies (CMED) received approval to market its high intensity focused ultrasound (HIFU) tumor therapy system in Korea. The medical device was approved for the indications of liver cancer, pancreatic cancer and uterine fibroids.
In July 2007, the HIFU device was given the go-ahead to begin testing in the US. Similar devices have already been approved in the US to treat fibroids, but none have been given the nod to treat tumors. The China Medical HIFU machine is already on sale in China – for tumors and cancer.
China Med is represented by an exclusive distributor in Korea, who will target the large general hospitals in the country, which has more than 1,000 hospitals overall.
The news about the Korean approval sent China Medical shares higher once again. In mid-session, China Medical was trading $2.42 higher at $41.60, an increase of 6%. China Medical made its IPO on Nasdaq in mid-2005, offering shares at $15. In the last 52 weeks it has had a range from $21.65 to $44.68. At its present price, China Medical has a market capitalization of $1.1 billion. The company is headquartered in Beijing.
ChinaBio Today is a regular contributor to BioHealth Investor
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Med Tech Firms Make Forbes Small-Companies List
by Sara Calabro
Med Tech Sentinel
Ventana Medical Systems (VMSI), in the midst of a hostile takeover bid by Roche, finally has something to smile about: The firm is the highest-ranking med tech firm, at number 17, on Forbes’ 200 Best Small Companies in America list, released last week.
The Tuscon, AZ-based company markets automated diagnostic systems to the anatomical pathology market. In early 2007, Ventana received FDA approval for the use of its PATHWAY HER-2/neu (4B5) Rabbit Monoclonal Antibody as an aid in the assessment of breast cancer patients for whom Herceptin treatment is an option. According to Forbes, Ventana had sales of $261 million for the latest 12 months. The firm made a significant jump from last year, when it was ranked number 115.
At number 25 is a company called Psychmedics (PMD), from Acton, MA, whose technology analyzes hair for drug abuse. The company says its patented platform can reveal a personal drug history over a period of several months. Sales, according to Forbes, were $24 million for the latest 12 months.
Coming in at number 31 is Cutera (CUTR), a Brisbane, CA, company that makes laser and light-based treatments for aesthetic treatments. Forbes reports sales of $103 million for Cutera.
Further down the list is Melville, NY-based Bovie Medical (BVX), a manufacturer of electrosurgical products, including generators, electrodes, electrosurgical pencils and various ancillary disposables used in surgery for cutting and coagulating tissue. Bovie sales for the last 12 months were $28 million.
Forbes’ list looked at companies with revenue of $5 million to $750 million and share prices above $5 as of October 1. They were ranked according to return on equity, as well as sustained sales and net profit growth over 12-month and five-year periods. View the complete list here.
Last June, Fortune Small Business came out with its annual FSB 100, a similar list of hotshot small companies in the U.S. Almost a quarter of that list (21 companies) was made up of healthcare-related companies.
Med Tech Sentinel is a regular contributor to BioHealth Investor
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