Australian biotech market watch 31/07/09

On this last day of Dry July and the All Ordinaries is in anything but a sober state; this week has seen consistent rises to new highs since the market hit bottom in March. As of mid-afternoon, the All Ords is 4,348, up 1.24% for the day after gains in the US markets overnight.

The Health Care indices have had some little trouble keeping up with the banks and miners though, dropping a third of a percent from today's open.

Manufacturer of miniature implantable heart pumps, HeartWare International (ASX:HIN), reeled yesterday from news the United States Federal Trade Commission had filed a complaint about its proposed acquisition by medical device company, Thoratec. However, it rallied again today, bouncing back 22% to $0.795, recovering most of its losses from Thursday.

Universal Biosensors (ASX:UBI) had a good day, lifting 8.33% to $0.91, although this comes after a series of drops from $1.00 around mid-July.

Fisher & Paykel Healthcare (ASX:FPH) has continued its strong run, up 5.8% today to $2.71, it's highest price since February.

CSL (ASX:CSL) shed a wee 12c to $30.35 after a strong week saw it rise from Monday's opening price of $29.63. The rest of the Big Three remained fairly stable, with Cochlear (ASX:COH) not moving much and ResMed wobbling slightly, but buoyed by bullish outlooks by analysts.