BIOTECH DAILY TOP 20 UP 20%, FOUR MONTHS OF BIOTECH GROWTH
April 5th 2009 23:13
Biotech Daily
Wednesday April 1, 2009
Daily news on ASX-listed biotechnology companies
Wednesday April 1, 2009
Daily news on ASX-listed biotechnology companies
Subscribe to Biotech Daily at the link above or at www.biotechdaily.com.au
BIOTECH DAILY’S TOP 40 INDEX
Biotechs climbed for the fourth consecutive month with the Biotech Daily Top 40 Index (BDI-40) up 29.7 percent in the four months to March 31, 2009, compared with the S&P ASX 200 fall of 4.3 percent.
The BDI-20 climbed 20.1 percent in the month of March compared to the S&P ASX 200 up 7.1 percent, only partly influenced by Arana’s 68.3 percent jump following the Cephalon takeover bid. Alchemia recovered 123.8 percent to a market capitalization of $47 million, with 10 of the BDI-20 up more than 20 percent and only four falls.
Both Biotech Daily indices outperformed the S&P ASX 200 over the 12 months to March 31, 2009, with the benchmark down 33.1 percent, while the BDI-20 fell 0.1 percent and the BDI-40 lost 19.2 percent. Overall, the lower 60 were also up.
The three Big Caps (which are not in the BDI-40) fell 14.2 percent in March, with CSL down $3.5 billion or 15.0 percent to $19.6 billion. Resmed was down 16.7 percent to $4.0 billion and Cochlear eased 4.1 percent to $2.8 billion. The Big Caps fell 1.5 percent for the 12 month period.
Twenty-five of the Top 40 companies were up, 12 fell and three were unchanged. Genera jumped 100 percent to a market capitalization to $18 million, followed by Chemgenex up 52.4 percent to $125 million, Starpharma up 50 percent to $51 million, with Biota, Peplin, Pharmaxis and Phosphagenics all up by more than 40 percent. Avexa, Cytopia and Genetic Technologies were up more than 30 percent with Universal Biosensors and Sunshine Heart up 20 percent or more.
Novogen led the falls down 19.1 percent to $51 million, but Heartware retreated $53 million or 15.0 percent to $301 million following investor uncertainty over the potential success of the $429 million Thoratec takeover bid. Other falls were less than 10 percent.
Progen remains a Top 40 company until the capital return and Medigen dust settles (BD: Mar 30, 2009), but Ventracor is in the hands of the administrators and will be replaced in the Second 20 by Tissue Therapies, which has two wound care trials underway and climbed 142.9 percent to $17 million – it’s highest market capitalization since July 2007.
Biotech Daily Top 40 ($m) v S&P ASX 200 2008-‘09
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