ALTANA Inc. and the FDA announced friday that Sulfacetamide Sodium Topical Suspension USP, 10%, will be available as generic.
Drug name Plexion is indicated for the treatment of acne and rosacea.
Plexion TS Emulsion is a sulfonamide antibiotic and keratolytic. It works by killing bacteria and shedding the top layer of skin to help treat acne.
The generic is made by Altana, Inc. and trades on the New York Stock Exchange under the ticker symbol AAA. AAA was down at friday's close to 57.91.
I would have assumed that a first time generic would have had a bigger impact on the trading price. The generic drug is made by Altana's generic department under the name fougera.
Saturday, November 18, 2006
Friday, November 17, 2006
Duramed Pharmaceuticals, Inc. Plan B(R) OTC Now Available In Pharmacies Nationwide
NEW YORK, Nov. 17-- The new dual-label Plan B(R) (levonorgestrel) emergency contraceptive arrives in pharmacies this week. To help patients, pharmacists, and healthcare providers understand how this unprecedented product status - Rx and Over-the-Counter (OTC) - will work, Duramed Pharmaceuticals, Inc., a subsidiary of Barr Pharmaceuticals, Inc., will launch the CARE (Convenient Access Responsible Education) Program, a comprehensive education program for healthcare professionals and consumers.
Approved on August 24, 2006, the new dual-label Plan B(R) is an OTC product for consumers 18 years of age and older and prescription only for women 17 and younger. It is marketed as a single package, which allows for a prescription label to be adhered to the package when dispensed to women age 17 and younger.
"We are pleased with the FDA's historic decision, which gives women more timely access to Plan B(R) emergency contraception," said Amy Niemann, Vice President of Marketing-Proprietary Products at Duramed Pharmaceuticals, Inc. "We are committed to educating consumers on the facts about Plan B(R), as well as how they can purchase the product depending on their age."
Plan B works in the same way a regular daily birth control pill works.
It consists of two tablets of 0.75 mg levonorgestrel (synthetic estrogens), that prevent ovulation or fertilization; it may also inhibit implantation. Once implantation occurs, Plan B(R) is not effective.
BRL ended today's trading largely unchange at $49.52
Approved on August 24, 2006, the new dual-label Plan B(R) is an OTC product for consumers 18 years of age and older and prescription only for women 17 and younger. It is marketed as a single package, which allows for a prescription label to be adhered to the package when dispensed to women age 17 and younger.
"We are pleased with the FDA's historic decision, which gives women more timely access to Plan B(R) emergency contraception," said Amy Niemann, Vice President of Marketing-Proprietary Products at Duramed Pharmaceuticals, Inc. "We are committed to educating consumers on the facts about Plan B(R), as well as how they can purchase the product depending on their age."
Plan B works in the same way a regular daily birth control pill works.
It consists of two tablets of 0.75 mg levonorgestrel (synthetic estrogens), that prevent ovulation or fertilization; it may also inhibit implantation. Once implantation occurs, Plan B(R) is not effective.
BRL ended today's trading largely unchange at $49.52
Genentech breast-cancer drug gets FDA OK
Shares of Genentech Inc. rose 77 cents Friday, a day after the Food and Drug Administration approved its Herceptin drug as part of a breast-cancer regimen.
South San Francisco-based Genentech said late Thursday the drug was OK'd for women with early-stage breast cancer who have had surgery, with or without radiation therapy.
The treatment is designed to reduce the risk of cancer recurrence or the occurrence of metastatic disease.
The FDA approval was based on data from an interim joint analysis of more than 3,500 patients enrolled in two third-phase clinical trials., which showed that the addition of Herceptin to standard adjuvant therapy significantly reduced the risk of breast cancer recurrence, Genentech said.
Remember that Herceptin is a humanized monoclonal antibody to the epidermal growth factor family member, Her2. It keeps the receptor from signaling.
In midday trading, shares were at $81.49 after closing the day before at $80.72.
South San Francisco-based Genentech said late Thursday the drug was OK'd for women with early-stage breast cancer who have had surgery, with or without radiation therapy.
The treatment is designed to reduce the risk of cancer recurrence or the occurrence of metastatic disease.
The FDA approval was based on data from an interim joint analysis of more than 3,500 patients enrolled in two third-phase clinical trials., which showed that the addition of Herceptin to standard adjuvant therapy significantly reduced the risk of breast cancer recurrence, Genentech said.
Remember that Herceptin is a humanized monoclonal antibody to the epidermal growth factor family member, Her2. It keeps the receptor from signaling.
In midday trading, shares were at $81.49 after closing the day before at $80.72.
Thursday, November 16, 2006
Antigenics Data Shows Vaccine Oncophage Produces Immune Response in Nerve Cancer Patients
ORLANDO, Fla. (AP) -- Biotech drug developer Antigenics Inc. said Thursday its cancer vaccine Oncophage produced a specific immune response to cancer of the nervous system.
In a early-to-midstage clinical trial, six patients with high-grade glioma given Oncophage showed an immune reponse specific to their tumors. Glioma is a cancer that affects the connective tissue cells that surround and support nerve cells.
"This is the first documentation of a glioma-specific immune response after vaccination with Oncophage," said Dr. Andrew T. Parsa, a principal investigator in the trial.
Oncophage uses material from an individual's tumor to reprogram the body's immune system to attack target cells with similar genetic material.
Antigenics shares rose 6 cents, or 2.6 percent, to $2.37 in afternoon trading on the Nasdaq.
In a early-to-midstage clinical trial, six patients with high-grade glioma given Oncophage showed an immune reponse specific to their tumors. Glioma is a cancer that affects the connective tissue cells that surround and support nerve cells.
"This is the first documentation of a glioma-specific immune response after vaccination with Oncophage," said Dr. Andrew T. Parsa, a principal investigator in the trial.
Oncophage uses material from an individual's tumor to reprogram the body's immune system to attack target cells with similar genetic material.
Antigenics shares rose 6 cents, or 2.6 percent, to $2.37 in afternoon trading on the Nasdaq.
Biotech's Business Models Evolve as Industry Matures
San Diego- Cautious optimism reigned at the inaugural BIOCOM San Diego Investor Conference, both for the future of the fledgling event and for the availability of financing as biotech business models continue to mature.
Biotech once held the monopoly on cutting-edge scientific innovation, but pharmaceutical companies have developed massive research and development engines, thereby invading the historical biotech territory, and they are doing so with R&D budgets that dwart what biotech can afford.
So what's to do?
Former executive chairman fo Biogen Idec Inc. William Rastetter, who also is a new partner at Venrock Associates, addressed those issues in his plenary breakfast speech. He advised applying many of the same principles that helped him gorw Idec Pharmaceuticals from a San Diego based start up to a multibillion dollar powerhouse, eventually merging with Biogen Inc, to form the world's third largest biotech. His tips included protecting assets with strong intellectual property, fostering an environment of collaborative inquiry and implementing a focused strategy.
Rastetter also advised companies to become the best in the world at something the "establishment" doesnt like or understand. At Idec's inception, that was monoclonal antibodies-specifically using a single antibody to treat a broad patient population. Today, he sees regenerative medicine as an area in which biotech may be able to exel while pharmaceutical companies hang back.
Biotech once held the monopoly on cutting-edge scientific innovation, but pharmaceutical companies have developed massive research and development engines, thereby invading the historical biotech territory, and they are doing so with R&D budgets that dwart what biotech can afford.
So what's to do?
Former executive chairman fo Biogen Idec Inc. William Rastetter, who also is a new partner at Venrock Associates, addressed those issues in his plenary breakfast speech. He advised applying many of the same principles that helped him gorw Idec Pharmaceuticals from a San Diego based start up to a multibillion dollar powerhouse, eventually merging with Biogen Inc, to form the world's third largest biotech. His tips included protecting assets with strong intellectual property, fostering an environment of collaborative inquiry and implementing a focused strategy.
Rastetter also advised companies to become the best in the world at something the "establishment" doesnt like or understand. At Idec's inception, that was monoclonal antibodies-specifically using a single antibody to treat a broad patient population. Today, he sees regenerative medicine as an area in which biotech may be able to exel while pharmaceutical companies hang back.
Drug stocks end with gain, biotechs slip
Drug stocks ended Thursday in positive territory while a Food and Drug Administration panel met to discuss the safety review of 16 drugs in children.
The FDA panel will make recommendations that may include changes to some of the drugs' labels.
The drugs being discussed range from Wyeth's Rapamune, which helps to prevent the rejection of kidney transplants, to Abbott Laboratories's HIV treatment Norvir and Pfizer Inc.'s cholesterol drug Lipitor.
Shares of GlaxoSmithKline PLC ended the session with a slight gain. The FDA gave priority review to Tykerb for use in connection with Xeoloda to treat metastatic or advanced breast cancer in women who have received prior therapy.
Industry bellwether Merck & Co. Inc.'s shares ended up more than 1%. The drugmaker said it has inked an agreement with India's Advinus Therapeutics Ltd. for the development of drug candidates for metabolic disorders.
Zoll Medical Corp. shares, meanwhile, rocketed higher by more than 28% after the maker of resuscitation devices and software reported fiscal fourth-quarter net earnings of $5.4 million, or 55 cents a share, up from $2.24 million, or 23 cents a share, in the year-ago period. Revenue rose to $72.3 million from $57.1 million.
The DJ Wilshire Pharmaceuticals Index added 16.54 points to close at 2360.65. The DJ Wilshire Biotechnology Index, meanwhile, slipped 2.30 points to close at 3269.19.
Shares of Dendreon Corp. ended down 11% after the company said it has agreed to sell 9.89 million shares to institutional investors for $45 million, before deducting fees and expenses.
But shares of Neurocrine Biosciences Inc. closed with a more than 5% rise after being upgraded to peer perform from underperform at Bear Stearns. The brokerage firm said the regulatory strategy for the company's insomnia drug candidate, Indiplon, removes an overhang on the stock.
The FDA panel will make recommendations that may include changes to some of the drugs' labels.
The drugs being discussed range from Wyeth's Rapamune, which helps to prevent the rejection of kidney transplants, to Abbott Laboratories's HIV treatment Norvir and Pfizer Inc.'s cholesterol drug Lipitor.
Shares of GlaxoSmithKline PLC ended the session with a slight gain. The FDA gave priority review to Tykerb for use in connection with Xeoloda to treat metastatic or advanced breast cancer in women who have received prior therapy.
Industry bellwether Merck & Co. Inc.'s shares ended up more than 1%. The drugmaker said it has inked an agreement with India's Advinus Therapeutics Ltd. for the development of drug candidates for metabolic disorders.
Zoll Medical Corp. shares, meanwhile, rocketed higher by more than 28% after the maker of resuscitation devices and software reported fiscal fourth-quarter net earnings of $5.4 million, or 55 cents a share, up from $2.24 million, or 23 cents a share, in the year-ago period. Revenue rose to $72.3 million from $57.1 million.
The DJ Wilshire Pharmaceuticals Index added 16.54 points to close at 2360.65. The DJ Wilshire Biotechnology Index, meanwhile, slipped 2.30 points to close at 3269.19.
Shares of Dendreon Corp. ended down 11% after the company said it has agreed to sell 9.89 million shares to institutional investors for $45 million, before deducting fees and expenses.
But shares of Neurocrine Biosciences Inc. closed with a more than 5% rise after being upgraded to peer perform from underperform at Bear Stearns. The brokerage firm said the regulatory strategy for the company's insomnia drug candidate, Indiplon, removes an overhang on the stock.
GlaxoSmithKline Wins Priority Review For Tykerb Cancer Drug
LONDON, Nov 16- GlaxoSmithKline Plc's new breast cancer pill Tykerb will receive a priority review from U.S. regulators in a move that should speed its path onto the world's biggest drugs market next year, it said on Thursday.
GSK.L closed trading thursday at $51.97 or up 42 cents.
GSK.L closed trading thursday at $51.97 or up 42 cents.
Another run at a Dow record
Blue-chip average in record territory on mild inflation, merger news; techs hurt by Dell, AMAT; oil turns lower.
NEW YORK-- The Dow industrials flirted with a new high near midday Thursday due to a mild inflation reading and a pair of big corporate deals, but tech stocks struggled after discouraging news from Dell and Applied Materials.
The Dow Jones industrial average (up 38.02 to 12,289.73, Charts) rose 0.3 percent around 2-1/2 hours into the session, briefly touching a new record trading high, before scaling back a bit. The blue-chip barometer ended the previous session at a record high for the 16th time since Oct. 3.
The broader S&P 500 (up 3.46 to 1,400.03, Charts) index added 0.3 percent after ending the previous session at its highest level since Nov. 9, 2000.
The tech-fueled Nasdaq composite (down 1.42 to 2,441.33, Charts) was little changed after ending the previous session at its highest level since Feb. 15, 2001.
"The CPI report was good news for investors, in that it shows inflation pressures continue to abate," said Alan Gayle, senior investment strategist at Trusco Capital Management.
"But the market has had a strong run and has already prices in a lot of good news," he said. "So this CPI report doesn't have the positive impact it used to."
Since bottoming in July, the major gauges have been on an upswing, as investors have reacted well to a bevy of supportive factors. They include: lower oil prices, improved quarterly earnings, a Federal Reserve that has halted its interest rate campaign, and bets that inflation is moderating and the economy has avoided a so-called "hard landing."
NEW YORK-- The Dow industrials flirted with a new high near midday Thursday due to a mild inflation reading and a pair of big corporate deals, but tech stocks struggled after discouraging news from Dell and Applied Materials.
The Dow Jones industrial average (up 38.02 to 12,289.73, Charts) rose 0.3 percent around 2-1/2 hours into the session, briefly touching a new record trading high, before scaling back a bit. The blue-chip barometer ended the previous session at a record high for the 16th time since Oct. 3.
The broader S&P 500 (up 3.46 to 1,400.03, Charts) index added 0.3 percent after ending the previous session at its highest level since Nov. 9, 2000.
The tech-fueled Nasdaq composite (down 1.42 to 2,441.33, Charts) was little changed after ending the previous session at its highest level since Feb. 15, 2001.
"The CPI report was good news for investors, in that it shows inflation pressures continue to abate," said Alan Gayle, senior investment strategist at Trusco Capital Management.
"But the market has had a strong run and has already prices in a lot of good news," he said. "So this CPI report doesn't have the positive impact it used to."
Since bottoming in July, the major gauges have been on an upswing, as investors have reacted well to a bevy of supportive factors. They include: lower oil prices, improved quarterly earnings, a Federal Reserve that has halted its interest rate campaign, and bets that inflation is moderating and the economy has avoided a so-called "hard landing."
Roche and FDA issue warning on tamiflu: YIKES!
Tamiflu (oseltamivir phosphate)
Audience: Pediatric and primary care healthcare professionals and patients
Roche and FDA notified healthcare professionals of revisions to the PRECAUTIONS/Neuropsychiatric Events and Patient Information sections of the prescribing information for Tamiflu, indicated for the treatment of uncomplicated acute illness due to influenza infection in patients 1 year and older who have been symptomatic for no more than 2 days and for the prophylaxis of influenza in patients 1 year and older.There have been postmarketing reports (mostly from Japan) of self-injury and delirium with the use of Tamiflu in patients with influenza. People with the flu, particularly children, may be at an increased risk of self-injury and confusion shortly after taking Tamiflu and should be closely monitored for signs of unusual behavior. A healthcare professional should be contacted immediately if the patient taking Tamiflu shows any signs of unusual behavior.
It works by stopping the virion particle from separating itself from human cells and proliferating.
Roche is a leading healthcare company with a uniquely broad spectrum of innovative solutions. For more than 100 years, we have been active in the discovery, development, manufacture and marketing of novel healthcare solutions. Our products and services address prevention, diagnosis and treatment of diseases, thus enhancing well-being and quality of life.
Audience: Pediatric and primary care healthcare professionals and patients
Roche and FDA notified healthcare professionals of revisions to the PRECAUTIONS/Neuropsychiatric Events and Patient Information sections of the prescribing information for Tamiflu, indicated for the treatment of uncomplicated acute illness due to influenza infection in patients 1 year and older who have been symptomatic for no more than 2 days and for the prophylaxis of influenza in patients 1 year and older.There have been postmarketing reports (mostly from Japan) of self-injury and delirium with the use of Tamiflu in patients with influenza. People with the flu, particularly children, may be at an increased risk of self-injury and confusion shortly after taking Tamiflu and should be closely monitored for signs of unusual behavior. A healthcare professional should be contacted immediately if the patient taking Tamiflu shows any signs of unusual behavior.
It works by stopping the virion particle from separating itself from human cells and proliferating.
Roche is a leading healthcare company with a uniquely broad spectrum of innovative solutions. For more than 100 years, we have been active in the discovery, development, manufacture and marketing of novel healthcare solutions. Our products and services address prevention, diagnosis and treatment of diseases, thus enhancing well-being and quality of life.
Wednesday, November 15, 2006
DOW scores record close today
NEW YORK-- Wall Street rallied again Wednesday, with the Dow Jones industrials scoring another record close as investors grew more confident that the Federal Reserve has inflation in hand. An $8 billion bid from US Airways Group Inc. for Delta Air Lines Inc. added to the market's momentum.
Minutes from the Fed's Oct. 24-25 meeting showed the central bank's governors remain more worried about inflation than the risk the economy would slow too quickly under higher interest rates. Investors seemed to be buying on the notion that the Fed had struck a balance between taming inflation and keeping the economy from falling into recession.
Investors also cheered the possibility of consolidation in the airline industry and remained upbeat following sharp gains Tuesday.
"I think the case for a soft landing is building," said Stuart Schweitzer, global markets strategist at JP Morgan Asset and Wealth Management. "It looks as though the Fed is bringing the economy in for a true soft landing with growth slowing down but not too much."
The Dow rose 33.70, or 0.28 percent, to 12,251.71, moving further into record territory. The Dow set a new trading high of 12,291.73. The energy, industrials and consumer staples sectors led the advance.
Broader stock indicators also gained. The S&P advanced 3.35, or 0.24 percent, to 1,396.57 and passed the 1,400 mark during the session for the first time since 2000. The S&P's record high of 1,527.46 came in the spring of 2000.
The Nasdaq composite index rose 12.09, or 0.50 percent, to 2,442.75, its highest level in 5 3/4 years.
Minutes from the Fed's Oct. 24-25 meeting showed the central bank's governors remain more worried about inflation than the risk the economy would slow too quickly under higher interest rates. Investors seemed to be buying on the notion that the Fed had struck a balance between taming inflation and keeping the economy from falling into recession.
Investors also cheered the possibility of consolidation in the airline industry and remained upbeat following sharp gains Tuesday.
"I think the case for a soft landing is building," said Stuart Schweitzer, global markets strategist at JP Morgan Asset and Wealth Management. "It looks as though the Fed is bringing the economy in for a true soft landing with growth slowing down but not too much."
The Dow rose 33.70, or 0.28 percent, to 12,251.71, moving further into record territory. The Dow set a new trading high of 12,291.73. The energy, industrials and consumer staples sectors led the advance.
Broader stock indicators also gained. The S&P advanced 3.35, or 0.24 percent, to 1,396.57 and passed the 1,400 mark during the session for the first time since 2000. The S&P's record high of 1,527.46 came in the spring of 2000.
The Nasdaq composite index rose 12.09, or 0.50 percent, to 2,442.75, its highest level in 5 3/4 years.
FDA Allows Resumption Of Immunomedics, Inc. Lupus Trials With Epratuzumab
MORRIS PLAINS, N.J.-- Immunomedics, Inc. , a biopharmaceutical company focused on developing therapeutic monoclonal antibodies, today announced that their partner, UCB , has received notification from FDA that the clinical hold on existing trials with epratuzumab in patients with lupus has been lifted.
"We are pleased that the FDA has agreed to remove the clinical hold status of the trials, and we plan to continue to work closely with UCB to make epratuzumab available to patients who were in the suspended trials, and who remain in urgent need," commented Cynthia L. Sullivan, President and Chief Executive Officer of Immunomedics.
Protocol amendments will now be submitted to Institutional Review Boards to seek approval to treat patients who remain on the currently suspended studies, and who are in need of re-treatment.
Epratuzumab is a monoclonal antibody that is specific for CD22. CD22 is a designation for a protein on B cells of the immune system. When this antibody binds to [B lymphocyte adhsesion molecule] the B cell cannot be activated, thus halting self antibody production, of which consitutes lupus. FYI, the most common auto antibody in lupus is specific for double stranded DNA.
IMMU closed today's trading on the NASDAQ exchange at 2.46 or up 1 cent per share.
"We are pleased that the FDA has agreed to remove the clinical hold status of the trials, and we plan to continue to work closely with UCB to make epratuzumab available to patients who were in the suspended trials, and who remain in urgent need," commented Cynthia L. Sullivan, President and Chief Executive Officer of Immunomedics.
Protocol amendments will now be submitted to Institutional Review Boards to seek approval to treat patients who remain on the currently suspended studies, and who are in need of re-treatment.
Epratuzumab is a monoclonal antibody that is specific for CD22. CD22 is a designation for a protein on B cells of the immune system. When this antibody binds to [B lymphocyte adhsesion molecule] the B cell cannot be activated, thus halting self antibody production, of which consitutes lupus. FYI, the most common auto antibody in lupus is specific for double stranded DNA.
IMMU closed today's trading on the NASDAQ exchange at 2.46 or up 1 cent per share.
Acorda Therapeutics Added to NASDAQ Biotechnology Index
HAWTHORNE, N.Y.--Acorda Therapeutics, Inc. today announced that it has been selected for addition to the Nasdaq Biotechnology Index, which will be effective at the market's opening on Monday, November 20, 2006. "We are very pleased to be included in the NASDAQ Biotechnology Index and believe that our selection to this index is recognition of Acorda's consistent progress and achievements," said Ron Cohen, M.D., President and CEO of Acorda. "We are committed to delivering on our mission to develop therapies to restore neurological function to people with spinal cord injury, multiple sclerosis and other disorders of the nervous system."
The NASDAQ Biotechnology Index was launched in 1993 and includes contains securities of NASDAQ-listed companies that meet minimum requirements, including market value, average daily share volume, and seasoning as a public company, among other criteria. The index is ranked on a semi-annual basis in May and November and serves as the basis for the iShares NASDAQ Biotechnology Index Fund (Amex: IBB - News). For more information about the NASDAQ Biotechnology Index, including eligibility criteria, visit www.nasdaq.com.
ACOR is trading up 65 cents or 4.4% at $15.27 in afternoon trading.
The NASDAQ Biotechnology Index was launched in 1993 and includes contains securities of NASDAQ-listed companies that meet minimum requirements, including market value, average daily share volume, and seasoning as a public company, among other criteria. The index is ranked on a semi-annual basis in May and November and serves as the basis for the iShares NASDAQ Biotechnology Index Fund (Amex: IBB - News). For more information about the NASDAQ Biotechnology Index, including eligibility criteria, visit www.nasdaq.com.
ACOR is trading up 65 cents or 4.4% at $15.27 in afternoon trading.
Early Asian Update: Taiwan leads advance; Japan's Canon also rises
HONG KONG-- Asian stocks mostly rose Wednesday, with Taiwan leading the gainers on strength in technology shares such as Taiwan Semiconductor Manufacturing Co., following strong gains in the technology-oriented U.S. Nasdaq index.
Taiwan's Weighted Price Index gained 0.5%.
Japan's Nikkei 225 Average ended lower, but broader losses in the index were cushioned by gains in consumer electronics makers such as Canon Inc. on expectations of upbeat holiday season sales after U.S. retailers reported strong results.
Tokyo's Nikkei 225 Average ended 0.3% lower to 16,243.47. The broader Topix index fell 0.3% to 1,592.00.
U.S. stocks rose Tuesday, sending the Dow Industrials to a record close, as investors cheered data showing a greater-than-expected fall in core U.S. producer prices, while a separate report showed consumer retail spending, although easing, held up better than had been expected.
Elsewhere in the region, Australia's S&P/ASX 200 fell 0.1%. Singapore's Straits Times Index rose 0.4% while Malaysia's KLSE Composite traded flat fell 0.4%. South Korea's Kospi rose 0.3% while New Zealand's NZX-50 Index ended 0.2% lower. Share indexes in Thailand traded flat. Shanghai's Composite Index rose 1.2%.
Hong Kong's Hang Seng Index ended the morning session up 0.6% to 18,990.22, led by gains in selected China-related stocks and property shares.
The China Enterprises Index, a gauge of China-incorporated shares listed in Hong Kong, rose 1%.
"The U.S. producer price data came as a surprise and the threat of inflation in the U.S. seems to subsiding," said Marco Mak, head of research at Tai Fook Securities in Hong Kong. "The Hong Kong index is still on the uptrend as investors have become more convinced interest rates will fall going forward."
Taiwan's Weighted Price Index gained 0.5%.
Japan's Nikkei 225 Average ended lower, but broader losses in the index were cushioned by gains in consumer electronics makers such as Canon Inc. on expectations of upbeat holiday season sales after U.S. retailers reported strong results.
Tokyo's Nikkei 225 Average ended 0.3% lower to 16,243.47. The broader Topix index fell 0.3% to 1,592.00.
U.S. stocks rose Tuesday, sending the Dow Industrials to a record close, as investors cheered data showing a greater-than-expected fall in core U.S. producer prices, while a separate report showed consumer retail spending, although easing, held up better than had been expected.
Elsewhere in the region, Australia's S&P/ASX 200 fell 0.1%. Singapore's Straits Times Index rose 0.4% while Malaysia's KLSE Composite traded flat fell 0.4%. South Korea's Kospi rose 0.3% while New Zealand's NZX-50 Index ended 0.2% lower. Share indexes in Thailand traded flat. Shanghai's Composite Index rose 1.2%.
Hong Kong's Hang Seng Index ended the morning session up 0.6% to 18,990.22, led by gains in selected China-related stocks and property shares.
The China Enterprises Index, a gauge of China-incorporated shares listed in Hong Kong, rose 1%.
"The U.S. producer price data came as a surprise and the threat of inflation in the U.S. seems to subsiding," said Marco Mak, head of research at Tai Fook Securities in Hong Kong. "The Hong Kong index is still on the uptrend as investors have become more convinced interest rates will fall going forward."
Tuesday, November 14, 2006
Anadys Pharmaceuticals Stock jumps
Up today 98 cents or 25%. Investors are cashing in on upcoming data to be presented over the next couple of months. ANDS volume nearly tripled from the 3 month average.
Anadys, a biopharmaceutical company, engages in discovering, developing, and commercializing small molecule medicines for the treatment of viral diseases and cancer. The company has core expertise in structure-based drug design coupled with medicinal chemistry and Toll-Like Receptor-based small molecule therapeutics. Its clinical development program includes ANA380 for the treatment of HBV, currently in mid-stage clinical development. Anadys Pharmaceuticals also focuses on the development of the ANA975 program for the treatment of HCV and HBV. In addition, it has an oncology program with the oral TLR-7 agonist, ANA773; a direct antiviral HCV program around a series of non-nucleoside NS5B inhibitors; a program with the oral TLR-7 agonist with potential utility in viral and non-viral applications; and a HIV program focused on viral entry in pre-clinical development.
Anadys, a biopharmaceutical company, engages in discovering, developing, and commercializing small molecule medicines for the treatment of viral diseases and cancer. The company has core expertise in structure-based drug design coupled with medicinal chemistry and Toll-Like Receptor-based small molecule therapeutics. Its clinical development program includes ANA380 for the treatment of HBV, currently in mid-stage clinical development. Anadys Pharmaceuticals also focuses on the development of the ANA975 program for the treatment of HCV and HBV. In addition, it has an oncology program with the oral TLR-7 agonist, ANA773; a direct antiviral HCV program around a series of non-nucleoside NS5B inhibitors; a program with the oral TLR-7 agonist with potential utility in viral and non-viral applications; and a HIV program focused on viral entry in pre-clinical development.
Biotechnology Stocks Finish up $4.4% today...
Let's hope it keeps building momentum through the holidays.
Allo Therapeutics stock Up on Tuesday Afternoon
WESTMINSTER, Colo.-- Allos Therapeutics, Inc. announced the presentation of updated safety results from its Phase 1/2 trial of PDX (pralatrexate) in patients with relapsed or refractory non-Hodgkin's lymphoma (NHL) and Hodgkin's disease.
PDX is a dihydrofolate reductase inhibitor, a folic acid dependent enzyme that is essential in the replication of DNA in rapidly proliferating cells. Inhibiting DHFR has been drug targets in biopharmaceutical companies for a long time being targets of bacterial infections, cancer, viral infections and so on.
Allos Therapeutics is up ~16% to $5.75 in afternoon heavy trading. The stock was also recently up-graded to "buy" by Reit.
PDX is a dihydrofolate reductase inhibitor, a folic acid dependent enzyme that is essential in the replication of DNA in rapidly proliferating cells. Inhibiting DHFR has been drug targets in biopharmaceutical companies for a long time being targets of bacterial infections, cancer, viral infections and so on.
Allos Therapeutics is up ~16% to $5.75 in afternoon heavy trading. The stock was also recently up-graded to "buy" by Reit.
Monday, November 13, 2006
Asian Stocks Up
HONG KONG-- Asian stocks were higher early Tuesday, with Japan's Nikkei 225 index leading the region after stronger-than-expected gross domestic product data inspired buying in blue-chip stocks such as Mitsubishi UFJ.
Japan's economy expanded 0.5% in the three-months ending in September from the previous quarter, its seventh straight quarter of expansion, the government said shortly before the start of trading.
Tokyo's Nikkei 225 Index gained as much as 1.7% to 16,286.81. The broader Topix index rose 1.7% to 1,595.85.
Elsewhere in the region, Australia's S&P/ASX 200 rose 0.4%. Singapore's Straits Times Index was up 0.5% while South Korea's Kospi added 0.5%. Taiwan's Weighted Price Index rose 0.7% and Malaysia's KLSE composite rose 0.4%.
Shares of Mitsubishi UFJ , Japan's largest bank by assets, rose as much as 3.6%
Japan's economy expanded 0.5% in the three-months ending in September from the previous quarter, its seventh straight quarter of expansion, the government said shortly before the start of trading.
Tokyo's Nikkei 225 Index gained as much as 1.7% to 16,286.81. The broader Topix index rose 1.7% to 1,595.85.
Elsewhere in the region, Australia's S&P/ASX 200 rose 0.4%. Singapore's Straits Times Index was up 0.5% while South Korea's Kospi added 0.5%. Taiwan's Weighted Price Index rose 0.7% and Malaysia's KLSE composite rose 0.4%.
Shares of Mitsubishi UFJ , Japan's largest bank by assets, rose as much as 3.6%
Biotechnology and Drug Stocks Mixed Today
The Amex Pharmaceutical Index edged up 0.4% to close at 325.47 and the Amex
Biotechnology Index fell 1.8% to 666.50.
Biotech index component Vertex (VRTX : Vertex Pharmaceuticals Inc) skidded 7% to $34.82. After market close Tuesday, the anti-viral drug developer reported a quarterly net loss of $50.1 million, or 47 cents a share. This compared to a net loss of $44.7 million, or 56 cents a share, last year.
Biogen Idec dipped as low as $42.52 before closing down marginally at $44.07.
For the first quarter, Biogen posted earnings of $123 million, or 36 cents a share. The Cambridge, Mass.-based company netted $43 million, or 12 cents a share, in last year's corresponding period. Revenue climbed 4% to $611 million, from $588 million last year, but still fell short of Wall Street expectations.
Discovery Laboratories was on the rebound, after sinking over 50% on Tuesday on news that manufacturing problems were delaying approval of its pediatric respiratory treatment Surfaxin.
Shares of Discovery shot up 17% to close at $2.58.
Also climbing was German drugmaker Bayer AG, up 3% at $43.70. The FDA awarded its drug candidate Nexavar orphan drug status in the treatment of liver cancer, meaning that if it receives approval, it will enjoy seven years of market exclusivity for that condition. Nexavar is already approved in the U.S. for the treatment of kidney cancer.
Gilead Sciences tumbled 7% to close at $57.31. The HIV drug developer announced on Tuesday that it had closed on a $1.3 billion sale of convertible senior notes.
Biotechnology Index fell 1.8% to 666.50.
Biotech index component Vertex (VRTX : Vertex Pharmaceuticals Inc) skidded 7% to $34.82. After market close Tuesday, the anti-viral drug developer reported a quarterly net loss of $50.1 million, or 47 cents a share. This compared to a net loss of $44.7 million, or 56 cents a share, last year.
Biogen Idec dipped as low as $42.52 before closing down marginally at $44.07.
For the first quarter, Biogen posted earnings of $123 million, or 36 cents a share. The Cambridge, Mass.-based company netted $43 million, or 12 cents a share, in last year's corresponding period. Revenue climbed 4% to $611 million, from $588 million last year, but still fell short of Wall Street expectations.
Discovery Laboratories was on the rebound, after sinking over 50% on Tuesday on news that manufacturing problems were delaying approval of its pediatric respiratory treatment Surfaxin.
Shares of Discovery shot up 17% to close at $2.58.
Also climbing was German drugmaker Bayer AG, up 3% at $43.70. The FDA awarded its drug candidate Nexavar orphan drug status in the treatment of liver cancer, meaning that if it receives approval, it will enjoy seven years of market exclusivity for that condition. Nexavar is already approved in the U.S. for the treatment of kidney cancer.
Gilead Sciences tumbled 7% to close at $57.31. The HIV drug developer announced on Tuesday that it had closed on a $1.3 billion sale of convertible senior notes.
Illumina to buy Solexa for about $600M
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Illumina Inc. said Monday it will buy Solexa Inc. for about $600 million.
San Diego-based Illumina is offering about $14 a share in its stock for every share of Hayward-based Solexa (NASDAQ:SLXA - News).
At Solexa's Friday closing price, the offer represents a 44 percent premium. Solexa shot up to $12.90 in midday trading upon the news. Illumina stock was down about 8 percent to $40.36.
In addition to the stock, Illumina has agreed to invest $50 million in Solexa in exchange for newly issued Solexa shares, subject to customary closing conditions.
Along with its Hayward headquarters, Solexa has operations in Cambridge, England. The company developed a genetic analysis system for use in whole genome sequencing, targeted resequencing, digital gene expression and microRNA analysis.
The companies said the market opportunity in sequencing is estimated at $1 billion, creating a market opportunity for the combined company in excess of $2.25 billion.
Illumina said it expects to maintain Solexa's operations in both California and Cambridge, and two members of Solexa's board will join the Illumina board.
Solexa Monday reported it narrowed its third-quarter loss to $9.9 million, or 27 cents per share, for the third quarter ended Sept. 30, compared with a net loss of $10.8 million, or 43 cents per share, for the same quarter in 2005.
Analysts polled by Thomson Financial expected a loss of 23 cents per share.
Total revenue for the quarter was $569,000, compared with revenue of $844,000 a year earlier.
The San Diego based Biotechnology company closed trading today (NASDAQ:ILMN) down 11.5%.
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Illumina Inc. said Monday it will buy Solexa Inc. for about $600 million.
San Diego-based Illumina is offering about $14 a share in its stock for every share of Hayward-based Solexa (NASDAQ:SLXA - News).
At Solexa's Friday closing price, the offer represents a 44 percent premium. Solexa shot up to $12.90 in midday trading upon the news. Illumina stock was down about 8 percent to $40.36.
In addition to the stock, Illumina has agreed to invest $50 million in Solexa in exchange for newly issued Solexa shares, subject to customary closing conditions.
Along with its Hayward headquarters, Solexa has operations in Cambridge, England. The company developed a genetic analysis system for use in whole genome sequencing, targeted resequencing, digital gene expression and microRNA analysis.
The companies said the market opportunity in sequencing is estimated at $1 billion, creating a market opportunity for the combined company in excess of $2.25 billion.
Illumina said it expects to maintain Solexa's operations in both California and Cambridge, and two members of Solexa's board will join the Illumina board.
Solexa Monday reported it narrowed its third-quarter loss to $9.9 million, or 27 cents per share, for the third quarter ended Sept. 30, compared with a net loss of $10.8 million, or 43 cents per share, for the same quarter in 2005.
Analysts polled by Thomson Financial expected a loss of 23 cents per share.
Total revenue for the quarter was $569,000, compared with revenue of $844,000 a year earlier.
The San Diego based Biotechnology company closed trading today (NASDAQ:ILMN) down 11.5%.
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