A bull market in life science stocks has revved up news for the upcoming ASCO Meeting on June 3 in Chicago. We will provide limited coverage of stocks to watch and scientific articles of interest. However it is clear that many PR shops and newsletters are busy preparing investors with lists of clinical stage cancer drugs and stocks to watch. Some large companies have demurred on Press Alerts and prefer a low key approach to what is really a scientific meeting.
Bloomberg has a story today on Melanoma drugs and ASCO presentations on clinical stage products by major drug companies Roche Holding AG (ROG.VX), Bristol-Myers (BMY) and GlaxoSmithKline (GSK) showing how the large cap drug companies have moved into biological treatments especially antibody therapies.Kalorama published the Top Ten Biotech Drugs in 2009 totaling $51.3B and the majority are humanized monoclonal antibody drugs. The Top Five drugs were Enbrel, Remicade, Rituxan,Avastin and Humira. A Top Ten list of biological drugs for 2010 will be out soon.
Bristol-Myers will hold a teleconference on Monday June 6 regarding their oncology portfolio.
Roche will hold an analyst briefing on June 5 and day by day guide of ASCO regarding their therapeutic pipeline for skin, lung and ovarian cancers.
GlaxoSmithKline plc will present data on their Phase III melanoma drug, a BRAF inhibitor GSK 2118436 as well as many other presentations.
In the meantime the market is perking up today with NASDAQ up 0.85% and our mid cap index of 33 biopharmaceutical stocks up 1.4% with many stocks in the green. All ETF’s are up as well FBT,IBB,XBI.