Australian biotech market watch 13/01/10

By Tim Dean
Wednesday, 13 January, 2010

The All Ordinaries has dipped for a second day in a row, down 35 points in afternoon trading to 4,896, eroding some of the gains made in the first week of January.

Anti-leukaemia drug company, ChemGenex (ASX:CXS), is up 1.55% to 98c, still falling just shy of the $1.00 mark.

Ramsay Health Care (ASX:RHC) has continued to make gains, up 18c to $11.63, on the back of news on Monday of an acquisition of a majority interest in French peer Groupe Proclif SAS, for $142 million.

It looks like Mesoblast's (ASX:MSB) stellar rise has plateaued, with the stock level today at $1.90, down from a brief peak above $2.00 this morning.

Biota Holdings (ASX:BTA), patent holder for anti-influenza drug, Relenza, has recovered from its dip yesterday, hovering around $2.07 after falling to below $2.00 mid-Tuesday.

Sonic Health Care (ASX:SHL) has continued its slow slide after its acquisition frenzy in late 2009, down today by 12c to $14.56.

Confidence in vaccine-maker, CSL (ASX:CSL), has recently been wavering following talk that the U.S. might cut back on swine flu vaccine orders given an oversupply of the vaccine and a relatively flaccid interest in it from the general public. CSL is down 39c to $31.50 today.

Sirtex Medical (ASX:SRX) has also shed 33c to $7.35, although there are signs of a moderate comeback this afternoon.