Life Science Stocks Are Deal Driven: Alkermes (ALKS) and Elan(ELN) Merge Technologies
Good Technology Fit Helped By Cheap Money and Tax Benefits M&A has been one of the main drivers of the biotech market and today we have more recombinant action as Alkermes (ALKS) of Boston is buying the EDT drug delivery unit of Elan (ELN) of Ireland for $960M. Elan would receive $500M in...
Upbeat Jobs Report Boosts Market But Rally Fading, Biotechs Are Strong
Biotechs Rally Unphased by Macro Concerns The market loved the jobs report after the nasty commodity meltdown yesterday but other news intervened and buyers left for the weekend. The Dow was up as much as 175 pts and is now trying to hold 12637 up 55 pts. The S&P is barely holding the flat...
Reporting from the Milken Conference: The Promise of Medical Science
An excellent perspective on the Medical Sciences in a panel by leading scientists was presented Monday at the Milken Institute Global Conference, "Shaping the Future" at the Beverly Hilton in Los Angeles May 2-4. Over 3000 people attended the Conference attesting to the market recovery since...
Profit Taking Hits Biotechnology Stocks
Biotechnology Sector Steps Back after Meteoric Rise Since Early March With many life science indices reaching new highs both YTD and in some cases over 10 years traders decided it was time to put away some cash. Don't fret yet as we are still way above March lows and still up over 10% YTD. But...
Health and Biotechnology: A Top Performing Sector YTD Up 13.2%
According to data compiled by the Wall Street Journal on Monday May 2 page R8, the Health and Biotechnology sectors led the market (excluding gold oriented funds) in 2011 up 13.2% YTD and 6.7% in April.In the number two position was small cap growth up 13% and mid cap growth up 10.3%. Two...