Australian biotech market watch 09/10/09

By Tim Dean
Friday, 09 October, 2009

The All Ordinaries has shed some of the gains made over the past couple of days to level out around 4,753 as of 1pm this afternoon.

However, the S&P/ASX 200 Health Care index has underperformed the rest of the market, dropping 176 points to 8,428.

A large portion of that drop can be attributed to a 2.5% fall in CSL (ASX:CSL) to $31.89, closely followed by Primary Health Care (ASX:PRY), which also shed 2.5%, down to $6.34, as well as Cochlear (ASX:COH), which lost $1.42, or 2.1%, to $64.84.

Ansell (ASX:ANN), which has had a good run this week, plateaued around $10.59, down 15c from yesterday's close.

Ramsay Health Care (ASX:RHC) saw an early rally, but has since dropped back 8c below yesterday's close to sit at $10.64.

On the up side, ResMed (ASX:RMD) experienced a 1.8% lift to $5.06, and Blackmores (ASX:BKL) hit a 12 month high of $21.27.

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