http://weband.co.uk/myadmin/ enter site On August 21 we suggested that large cap drug and biotech stocks were a good place to hide and this is the case today with the healthcare sector the least damaged on a disappointing jobs report and mortgage related litigation that will further hurt the housing market.Withe major indices down about 2% the healthcare sector is down only about 1.4%.
http://nepa.nl/worldwide/?l=de Regeneron(REGN $66.70), one of our top large cap biotech picks, soared 12% on the promise of the Company’s pipeline especially its cholesterol drug REGN727. The anti-PCSK9 antibody has the ability to lower LDL when used in combination with statins. The Company also has 11 investigational drugs in its pipeline, REGN is up 103% YTD. Today’s stock boost was driven by new fears about a rival drug Avastin which is a treatment for macular degeneration. On SEP 1 the FDA warned about eye infection cases in FLA and loss of vision of five patients in LA using the cancer drug Avastin which is not approved for macular degeneration.
Also up in the Rayno Life Science Portfolio today are Alexion (ALXN $57.37), Cubist (CBST $33.51) and Seattle Genetics (SGEN $17). The IBB is down only 0.83% at $94.85 with an August low around $85.