Australian biotech market watch 02/10/09
Friday, 02 October, 2009
The All Ordinaries has followed the Dow Jones and other international indices by dropping nearly 2% in today's trading on the back of fears of continued economic strife in the United States. The health index managed to keep the slide to a minimum, shedding only 0.7%.
At the forefront of the losses was Biota Holdings (ASX:BTA), which receives royalties for the anti-viral drug, Relenza, which dropped 2.8% to $2.77.
Ramsay Health Care (ASX:RHC) also lost 2% of its value, down to $10.86, bringing it back to its Monday start after peaking at $11.10 mid-week.
Medical implant company, Cochlear (ASX:COH) saw a $1.15 dip to $66.42, and CSL (ASX:CSL) slipped 22c to $33.22.
It wasn't all bad news though. Blackmores (ASX:BKL) nudged upwards half a per cent to $20.23, after having a shaky start this morning.
Photoprotective drug company, Clinuvel (ASX:CUV) also saw a late jump of over 10% to $0.38, putting its stock at a four month high.
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