Here is an update of our Diagnostics and Tools portfolio.
- Diagnostics and Tools have underperformed the biopharmaceuticals sector over the past 6 months with the exception of the companies acquired.
- Major acquisitions over the past 12 mos. have boosted performance: Celera, Immucor, Microfluidics and Seracare. Illumina is currently in play with a $51 bid from Roche which was rejected by the Company.
- Genomic tools and large cap Dx stocks got a big boost up 20%+ since early January with strong presentations at the JPMorgan Conference but have been quiet lately.
- Our biggest winners in total return since inception are: Abaxis (ABAX), Exact Sciences (EXAS), Illumina (ILMN),NeoGen (NEOG) and Quidel(QDEL).
- Our valuation metrics on core DX stocks will be out tomorrow.
- Response Genetics (RGDX) was added to our portfolio in early February at $1.50..
Disclosure: We are currently long CSII, RGDX and plan to add positions in other stocks over the next 3 months