Australian biotech market today 13.03.09

Biotech and pharma stocks were up 1.5 per cent on trading at 2pm compared to a rise in the All Ordinaries of three per cent, on a good day for the Australian sharemarket overall.

Alchemia (ASX:ACL) is up 5c on news that its manufacturing partner Dr Reddy’s Laboratories had filed a new drug application with the US FDA for a generic version of fondaparinux, an anti-coagulant used for treating blood clots.

pSivida (ASX:PVA) was up eight per cent to $1 following its report of good interim results in a Phase II trial of an intra-vitreal insert for diabetic macular oedema.

CSL (ASX:CSL) is up 40c but is still down on its year high of $38.50, while Sonic Healthcare recovered 40c on yesterday’s year low of $9.96.

Acrux (ASX:ACR) and Cellestis (ASX:CST) were up slightly on very small volumes.