Wednesday’s Top Medical & Biotech Stocks
by H.S. Ayoub
BioHealth Investor
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Biotechnology
KOSAN BIOSCIENCES [KOSN] +24.34%
HALOZYME THERAPEUTIC [HALO] +23.17%
METABASIS THERAPEUTI [MBRX] +17.68%
BARRIER THERAPEUTICS [BTRX] +10.83%
DISCOVERY LABS INC [DSCO] +10.70%
Diagnostic Substances
LEXICON PHARMACEUTCL [LXRX] +10.31%
RESPONSE GENETICS, I [RGDX] +8.00%
ISTA PHARMACTLS [ISTA] +7.57%
HUMAN GENOME SCI [HGSI] +4.88%
TORREYPINES THERAPEU [TPTX] +3.03%
Drug Delivery
ACURA PHARMACEUTICAL [ACUR] +17.08%
EMISPHERE TECH [EMIS] +9.40%
MATRIXX INITIATVS [MTXX] +6.24%
NOVEN PHARMACEUTIC [NOVN] +3.08%
FLAMEL TECH SA ADR [FLML] +2.98%
Drug Manufacturers
NEUROGEN CP [NRGN] +14.04%
NOVABAY PHARMACEUTCL [NBY] +9.38%
NEXMED INC [NEXM] +6.93%
DEPOMED INC [DEPO] +5.84%
SCICLONE PHARMA [SCLN] +4.97%
Drug Related Products
DRAXIS HEALTH INC [DRAX] +3.32%
NUTRACEUTICAL INTL [NUTR] +1.70%
USANA HEALTH SCIEN [USNA] +1.66%
LABOPHARM INC. [DDSS] +1.28% $0
PERRIGO COMPANY [PRGO] +0.49%
Generic Drugs
PHARMACUTICAL CO [PRX] +5.20%
BARR PHARMA INC [BRL] +0.26%
Medical Appliances & Equipment
STEREOTAXIS, INC. [STXS] +17.17%
PATIENT SAFETY TECH [PSTX.OB] +8.91%
CELSION CORP [CLN] +7.71%
EDAP TMS SA ADR [EDAP] +7.65%
ENDOCARE INC [ENDO] +6.60%
Medical Instruments & Supplies
NUCRYST PHARMACEUTIC [NCST] +8.98%
ELECTRO-OPTICAL SCIE [MELA] +8.46%
ANGIODYNAMICS INC [ANGO] +4.56%
BIOMIMETIC THERAPEUT [BMTI] +3.86%
ATRICURE, INC. [ATRC] +3.78%
Medical Laboratories & Research
ARRAY BIOPHARMA IN [ARRY] +11.43%
BIO-IMAGING TECH [BITI] +3.14%
SPHERIX INC [SPEX] +2.85%
PSYCHEMEDICS NEW [PMD] +1.10%
RADNET INC [RDNT] +0.94%
- Tuesday’s Top Medical & Biotech Stocks
- Monday’s Top Medical & Biotech Stocks
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Another Silly Bio-Generics Bill
by David E. Williams
Health Business Blog
Two Congressional Reps have introduced a bill to create a pathway for generic biopharmaceuticals. It seems to me like a big waste of time.
The bill has the following key provisions, according to Kaiser Daily Health Policy Report:
12-14.5 years of market exclusivity for the original product before generics can appear
Clinical trial requirements for follow-on products, which could be waived by FDA (I don’t have more details on this yet)
Exempting “select agents and toxins” like Botox from competition, for “national security” reasons. (Maybe it will keep the enemy wrinkly-faced?)
Granting the FDA the authority to declare medications as interchangeable
I can’t imagine how this bill would have any significant impact on drug costs. It seems likely to severely limit the number of biotech drugs facing serious competition, which will keep prices up. The only beneficiaries will be brand name biotech companies and a few generic biotech companies who get drugs approved and enter into an oligopolistic market environment.
As I’ve said before, a better idea would be to simply regulate the prices of biotech drugs once they’re off patent (or have been on the market for a certain number of years). Advantages of this approach include:
Guaranteed, predictable savings
Elimination of risky and expensive clinical trials of follow-on products, with their potential to harm patients
Limitation on the breadth of FDA oversight. Fewer new manufacturing facilities makes it easier for FDA to keep up
Higher manufacturing capacity utilization for brand name companies, who will retain 100 percent of the market
The only losers will be generic biotech companies. Since that industry doesn’t really exist yet, I don’t think it’s such a problem.
Health Business Blog is a regular contributor to BioHealth Investor
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Tuesday Recap: Medical & Biotech Stocks
by H.S. Ayoub, DMD
BioHealth Investor
Nasdaq Biotechnology Index (^NBI) +2.85%
Amex Pharmaceutical Index (^DRG) +2.30%
iShares Dow Jones Medical Devices (IHI) +3.03%
Ista Therapeutics (ISTA) up 39.10%… Well, I guess the company’s presentation at the Cowen & Company 28th Annual Health Care Conference in Irvine, California went well today. The company’s President and CEO was slated to update the investment community on commercial and clinical progress around 4pm Eastern Standrad Time. At around 3pm volume spiked sending shares from around $1.60 to a day high of $1.95. Ista is a biotech firm focused on eye disease.
Nuvelo (NUVO) down 46.32%… Like I mentioned in Monday’s recap, Nuvello is headed to a long stay in Pennyland! After announcing further poor study results, 40 jobs being cut, and further cost and program cutting measures Pacific Growth Equities had the astonishing foresight to downgrade the stock. Amazing!
Dynavax (DVAX) down 58.62%… the FDA halted an experimental Hepatitis B vaccine being co-developed by Dynavax and Merck (MRK), absolutely destroying shares of the little biotech. The vaccine, Helisav, was in phase 3 trials in Europe and Canada, and had shown great progress so far until one patient was diagnosed with Wegener’s granulomatosis, a disease in which the blood vessels become inflamed. The trial is on hold until the FDA investigates the cause of that patient’s condition and removes the halt. Unlike Nuvello’s predicament (See above) Dynavax traders could still make substantial gains on today’s price action since that one patient’s condition could very well be a statistical outlier.
Tuesday’s Top Medical & Biotech Stocks
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China a Priority for AstraZeneca
by Richad Daverman, PhD
ChinaBio Today
Expanding the presence of AstraZeneca (NYSE: AZN) in the Asia-Pacific region in general and China specifically is a priority for AstraZeneca, according to John Ramsey, AstraZeneca’s Vice President for Global Development. Ramsey made the remarks in an interview with EView Week.
Ramsey stressed that AstraZeneca is interested in developing drugs that address the needs of China’s population. Toward that end, AstraZeneca has established its Innovation Center China (ICC), which began operations in 2007 and establishes relationships with China’s universities and medical centers. Because of the company’s emphasis on China’s needs, Ramsey can boast that AstraZeneca’s $100 million investment in China (spread over two to three years) is the largest of any biopharma that is focused on China’s diseases.
The ICC will concentrate on cancer, seeking to learn more about liver cancer, gastric cancer, lung cancer and pre-menopausal breast cancer. It will study the causes of the disease, define biomarkers and identify new targets for innovative drugs.
The growing China market for drugs is one reason that AstraZeneca chose to concentrate in China. But just as important was its pool of scientific talent and unique medical needs.
Although AstraZeneca China’s motto is “In China, For China,” the staff at ICC has the ability to work with AstraZeneca scientists from around the world. So far, the ICC has put on its staff 40 researchers, 40% of them with PhDs. The target is to hire 60 scientists.
AstraZeneca China currently has a total workforce of 2,500.
Worldwide, AstraZeneca has 65,000 employees, and about 12,000 of them are involved in drug discovery/development.
ChinaBio Today is a regular contributor to BioHealth Investor
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Tuesday’s Top Medical & Biotech Stocks
by H.S. Ayoub
BioHealth Investor
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Biotechnology
SUNESIS PHARMACEUTIC [SNSS] +31.58%
DARA BIOSCIENCES [DARA] +24.56%
RXI PHARMACEUTICALS [RXII] +22.16%
TERCICA INC [TRCA] +19.11%
BIONOVO INC [BNVI] +15.25%
Diagnostic Substances
ISTA PHARMACTLS [ISTA] +39.10%
QUIDEL CP [QDEL] +6.62%
MERIDIAN BIOSCIENC [VIVO] +6.34%
ABAXIS INC [ABAX] +5.97%
AMAG PHARMACEUTICALS [AMAG] +5.68%
Drug Delivery
NEKTAR THERAPEUTIC [NKTR] +7.45%
PENWEST PHARM CO [PPCO] +6.90%
DELCATH SYSTEMS INC [DCTH] +4.40%
K V PHARMA CL A [KV-A] +4.04%
ELAN CP PLC ADR [ELN] +3.91%
Drug Manufacturers
MINRAD INTL INC [BUF] +17.16%
TELIK INC [TELK] +11.87%
MIDDLEBROOK PHARMACL [MBRK] +10.81%
SEPRACOR INC [SEPR] +9.91%
MARSHALL EDWARDS [MSHL] +9.71%
Drug Related Products
AMEXDRUG CP [AXRX.OB] +9.09%
SALIX PHARM DEL [SLXP] +7.37%
PERRIGO COMPANY [PRGO] +6.54%
TIENS BIOTECH GR USA [TBV] +5.80%
USANA HEALTH SCIEN [USNA] +5.61%
Generic Drugs
CATALYST PHARMACEUTI [CPRX] +5.39%
MYLAN INC [MYL] +3.81%
WATSON PHARMACEUTCLS [WPI] +2.96%
PHARMACUTICAL CO [PRX] +2.74%
CARACO PHARMA LABS [CPD] +1.61%
Medical Appliances & Equipment
BIOFORM MEDICAL, INC [BFRM] +17.83%
ALIGN TECHNOLOGY I [ALGN] +11.51%
BSD MEDICAL CORP [BSM] +11.34%
IRIDEX CP [IRIX] +10.10%
CUTERA, INC. [CUTR] +8.82%
Medical Instruments & Supplies
MEDPRO SAFETY PD [MPSP.OB] +23.33%
TRANS1 INC. [TSON] +14.99%
NANOSPHERE, INC. [NSPH] +12.15%
AMDL, INC [ADL] +8.49%
CONCEPTUS INC [CPTS] +8.22%
Medical Laboratories & Research
ENZO BIOCHEM INC [ENZ] +11.11%
ERESEARCHTECHNOLOG [ERES] +6.84%
ARRAY BIOPHARMA IN [ARRY] +5.78%
BIO-REFERENCE LAB [BRLI] +5.54%
QUEST DIAGNOSTC [DGX] +4.47%
- Monday’s Top Medical & Biotech Stocks
- Friday’s Top Medical & Biotech Stocks
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Despite Media Carping, Americans Largely Trust Drug Companies
by Nathan Burchfiel
Business & Media Institute
Media attacks on pharmaceutical companies don’t resonate with the public, which overwhelmingly believes drug makers improve quality of life.
Seven out of ten Americans believe prescription drugs developed over the past 20 years have made life better for their fellow Americans – in spite of journalists’ incessant attacks on pharmaceutical companies – a new survey by USA TODAY, the Kaiser Family Foundation and the Harvard School of Public Health shows.
A majority of Americans (59 percent) believe prescription drugs, costly as they may be, help reduce the need for more expensive medical procedures. A majority (55 percent) also believe drugs are tested and monitored vigorously enough to ensure safety.
An overwhelming majority of Americans trust drug companies to develop new and effective drugs (80 percent trust the companies “somewhat” or “a lot”), offer reliable information about the side effects and safety of the drugs (72 percent), inform the public quickly of a safety concern (55 percent) and offer reliable information about how well the drugs work (71 percent).
The only negative views of the drug companies came from profits and advertising. Sixty percent of respondents said companies spend too much money advertising their drugs. Nearly three-quarters (74 percent) said drug companies make “too much” profit. Seventy-nine percent said the costs of prescription drugs are “unreasonable.”
Yet those “overpriced” drugs contribute to a better life for most Americans, according to the same survey. They could also help prevent further spending on expensive medical procedures. So why do Americans think drugs are overpriced, or that companies make “too much” profit?
Could it be caused in any way by the consistently negative coverage of pharmaceutical companies by the media?
The Business & Media Institute Special Report “Prescription for Bias” found that network news shows focused on the cost of drugs to consumers 11 times more than they mentioned the costs associated with developing those drugs. Only 2 percent of stories examined in the study dealt with the costs of research and development.
The Tufts Center for the Study of Drug Development estimated the cost of developing one new drug is more than $800 million before it is even approved by the Food and Drug Administration. And with other countries – such as Canada – setting price ceilings for prescriptions, American patients bear a bigger share of the research and development costs.
Business & Media Institute is a regular contributor to BioHealth Investor
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Monday Recap: Medical & Biotech Stocks
by H.S. Ayoub, DMD
BioHealth Investor
QLT Inc. (QLTI) up 41.63%… The FDA has completed its review the company’s labeling supplement (sNDA) for Aczone(TM) and has removed certain requirements imposed earlier. Aczone is the only acne treatment to use the potential of dapsone in a topical formulation.
Nuvelo (NUVO) down 26.47% aftermarket 4:40pm… the biotech company released more failed phase 2 results of its blood thinner alfimeprase, following two failed studies in 2006. The company will restructure and lay off 40 employees to redirect resources for other programs. Nuvelo is headed to a long stay in pennyland!
Cardiome Pharma (CRME) up 30.61%… the Canadian drug maker released positive phase 2b results of an oral version of its atrial fibrillation drug Vernakalant. The 500mg dose was found to be statistically safer and more efficient than a placebo. An Oppenheimer analyst suggested that the market for such a drug is worth at least $500 million. The company hired Merril Lynch to conduct review of partnership offers from various pharmaceutical companies.
RXi Pharmaceuticals (RXII) down 28.49%… the RNAi technology company continues its erratic Wall Street debut. On March 12 the company IPO opened at $6, quickly jumped to a high of almost $24, before declining to Monday’s closing price of $7.58.
Monday’s Top Medical & Biotech Stocks
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Monday’s Top Medical & Biotech Stocks
by H.S. Ayoub
BioHealth Investor
Subscribe now to keep up to date on the latest news, articles and daily top stocks:
Subscribe by Email
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Biotechnology
QLT INC [QLTI] +41.63%
TRUBION PHARMACEUTIC [TRBN] +18.55%
GENVEC INC [GNVC] +10.17%
CADENCE PHARM. INC. [CADX] +9.57%
CV THERAPEUTICS I [CVTX] +7.78%
Diagnostic Substances
SCOLR PHARMA INC [DDD] +5.69%
IMMUCELL CP [ICCC] +4.56%
INTERLEUKIN GENETICS [ILI] +2.76%
ASPENBIO PHARMA INC [APPY] +1.85%
AVALON PHARMACEUTIC [AVRX] +1.01%
Drug Delivery
NOVEN PHARMACEUTIC [NOVN] +11.31%
ARADIGM CORP [ARDM.OB] +2.56%
PENWEST PHARM CO [PPCO] +2.35%
K V PHARMA CL A [KV-A] +0.91%
Drug Manufacturers
CARDIOME PHARMA NEW [CRME] +30.61%
NEUROGESX, INC. [NGSX] +13.01%
OSCIENT PHARMACEUT [OSCI] +8.87%
NEUROGEN CP [NRGN] +8.81%
GAMMA PHARMACEUTICAL [GMPM.OB] +7.41%
Drug Related Products
TIENS BIOTECH GR USA [TBV] +2.99%
PRESTIGE BRAND HLGS [PBH] +1.87%
DRAXIS HEALTH INC [DRAX] +1.79%
MEDICAL NUTRITN USA [MDNU] +1.43%
INTEGRATED BIOPHARMA [INBP] +1.29%
Generic Drugs
WATSON PHARMACEUTCLS [WPI] +1.60%
Medical Appliances & Equipment
CYTOCORE INC [CYOE.OB] +14.58%
ASPECT MEDICAL SYS [ASPM] +8.01%
MICRUS ENDOVASCULAR [MEND] +1.20%
VNUS MEDICAL TECHNOL [VNUS] +0.90%
MASIMO CORPORATION [MASI] +0.74%
Medical Instruments & Supplies
ISORAY INC [ISR] +13.21%
ARISTOTLE CP [ARTL] +9.44%
SAFESTITCH MEDICAL, [SFES.OB] +7.94%
CRYOCOR, INC. [CRYO] +5.91%
BIOSPHERE MEDICAL [BSMD] +5.36%
Medical Laboratories & Research
GENOPTIX, INC. [GXDX] +4.49%
ERESEARCHTECHNOLOG [ERES] +1.04%
PSYCHEMEDICS NEW [PMD] +0.91%
- Friday’s Top Medical & Biotech Stocks
- Thursday’s Top Medical & Biotech Stocks
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JP Morgan Grabs Bear Stearns for $2; Long Recession Ahead
by H.S. Ayoub, DMD
BioHealth Investor
I know this is supposed to be a blog covering the biotechnology and medical industry, but in an unprecedented move for this blog, a major non-health related event will have to be commented on.
Bear Steans (BSC) was forced to sell itself to JP Morgan (JPM) for a whopping $2 a share, equal to $236 million in total! The company was worth over $20 billion just a couple of months ago, representing a drop of over 90%.
This was following the horrible day of trading on Friday after JP Morgan, with the help of the Federal Government, gave Bear Stearns a month long loan after investment firms and banks pulled their holdings from the troubled firm amid liquidity concerns.
Asian markets dropped big as soon as the acquisition was announced on Sunday, and Wall Street is bracing for another crash on Monday.
Firms around the world will be forced to re-analyze their investment assets in other financial firms, especially those based in the US, in order to stay ahead of a similar illiquidity problem that brought down Bear Stearns, and will be less motivated to invest new capital any time soon.
The dwindling economy, coupled with rising energy costs due to high demand from China and India, places the US in a situation never seen before; at the sidelines and not the epicenter of the financial world.
For those that think we are not in a recession, or at least the recession we are already in will not last too long, think again. We might very well be at the start of a long and gloomy couple of years.
BioHealth Investor.com
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Hacking the Heart
by Doug Cress
Med Tech Sentinel
A team of computer security researchers have remotely hacked Medtronic’s (MDT) Maximo – a stopwatch-sized implantable cardiac defibrillator.
Armed with an antenna, radio hardware and a PC, the team was able to shut down and manipulate the device – and even deliver potentially lethal jolts of electricity.
The investigation was led by The Medical Device Security Center, a cross-disciplinary partnership between researchers at Harvard Medical School, UMass, and the University of Washington.
The study (available here in .pdf) evaluated the security and privacy properties of wireless implantable devices used in hundreds of thousands of patients worldwide.
The Wireless Age
Using wireless technology, physicians are better able to monitor patients and adjust devices without the need for additional surgeries. Many pacemakers, implantable defibrillators and drug pumps now incorporate computers and radios.
Researchers found that the security of these devices may be lacking, opening the door to potentially murderous attacks, “Our investigation shows that an implantable cardioverter defibrillator (1) is potentially susceptible to malicious attacks that violate the privacy of patient information and medical telemetry, and (2) may experience malicious alteration to the integrity of information or state, including patient data and therapy settings for when and how shocks are administered.”
While I have difficulty imagining a scenario where the techniques would be used to harm or kill, I also have difficulty imagining why a hacker would create a computer virus for no other reason than to annoy or impact economic hardship.
“No Cause for Concern”
A Medtronic spokesperson, Robert Clark, quickly dismissed any fears in a statement released yesterday, “To our knowledge there has not been a single reported incident of [ICD hacking] in more than 30 years of device telemetry use, which includes millions of implants worldwide.”
The researchers also said there is no need for public concern: the experiment required some $30,000 worth of gear and a sustained effort by a team of specialists; the ICD was placed within two inches of the team’s equipment.
Med Tech Sentinel is a regular contributor to BioHealth Investor
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