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Biotech Daily covers the major announcements from ASX-listed biotech companies as well as the major research institutes and developments in government policy.

Published shortly after the stock market closes five days a week - excluding public holidays - Biotech Daily is the only comprehensive daily source of information on the listed biotech sector.

The Biotech Daily Top 40 Index (BDI-40) is selected on the basis of interesting technologies, benefit to human health and investment potential. Market capitalization is important, but is not a sole arbiter.

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Subscribers include biotech directors and CEOs, major pharmaceutical companies, investment houses, market analysts, retail investors, doctors, medical specialists and hospital management.

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June 1, 2009: 6 Months Of Growth, BDI-20 Up 93%

This month’s Biotech Daily Top 40 v S&P ASX 200 chart (below) showing six consecutive months of growth is worth a close look.

Biotech Daily is skeptical of “chartists” using price and volume flows to pick winners, but the trend is incontestably upward with the Biotech Daily Top 20 Index (BDI-20) up 93.1 percent for the six months to May 31, 2009, with a slower positive rate for the Second 20.

For the 12 months to May 31, 2009 the BDI-20 was up 23.0 compared to the S&P ASX 200 falling 32.5 percent.

In the month of May, the BDI-20 was up 11.7 percent, the Second 20 was up 7.4 percent giving the BDI-40 an 11.0 percent increase and the lower 60 were also positive. In the same period the S&P ASX 200 was up 0.98 percent. One respected analyst told Biotech Daily last week that the biotech run was over. Sorry. We don’t think so.

The three Big Caps (which are not in the BDI-40) fell 12.9 percent in May, dragged down by CSL’s 15.7 percent fall to $17.5 billion on the Talecris deal.

Twenty-two Top 40 companies were up, 16 fell and two were unchanged. Nanosonics’ 142.4 percent jump was primarily due to the ASX’s inability to include 92,235,861 escrowed shares in its data. Progen’s $45 million or (69.2%) fall to $20 million mostly reflects its $40 million buy-back.

Avexa led the pack, up 107.1 percent on a series of announcements. Novogen rose 78.7 percent following a ‘helpful’ blog by former CEO Dr Graham Kelly, followed by Bone (63.6%), Genetic Technologies (58.8%), Genera (50%), Universal Biosensors (43.7%), Chemgenex (40.6%), Benitec (37.5%), Starpharma (26.9%) and Clinuvel (26.1%).

Cytopia led the falls, down 30 percent to $7 million, followed by Sunshine Heart (25%), Cathrx (20.7%), Phosphagenics (17.7%) and Labtech (13.3%).

 

Biotech Daily Top 40 ($Am) v S&P ASX 200

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Biotech Daily Top 40 with Market Capitalization at June 1, 2009

* Biotech Daily editor, David Langsam, owns shares in Alchemia, Biota, Chemgenex, Cytopia and Stem Cell Sciences, as well as non-biotechnology stocks. Through Australian Ethical Investment trusts he has an indirect interest in Cochlear, CSL, Genera, Pharmaxis and Resmed. These are liable to change at any time.