We will be attending the BIO Meeting in Washington DC and will not be posting as usual.

Note that there were two news items over the weekend on our portfolio stocks:

A positive article on Gilead (GILD) in Barron’s.

Gilead Sciences Shares Could Rally – Barrons.com

Another article in Barron’s which was also covered on CNBC was that with healthcare stocks up 11% YTD we could get some rebalancing out. They mentioned that the short interest on ETF’s in  the sector was  high at 26%.

A Release from Amgen regarding Modification for Use of EPO (more conservative dosing) . The stock could be weak Monday:

Amgen Announces Modifications to U.S. Prescribing Information for Use of Erythropoiesis-Stimulating Agents in Chronic Kidney Disease – Yahoo! Finance

Amgen-J&J Anemia Drugs Get Lower FDA Dosing Recommendations – Bloomberg

Overall the action has been choppy lately but most biotech indices have held up for the week.

The QQQ was actually up 1.1% for the week although down 4.83% over 30 days.

Also one of the trends supporting M&A-R&D for new drugs is harder than ever and spending is lower.

Drug R&D spending fell in 2010, and heading lower | Reuters

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