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10-Year BDI-40 Up 163%, ASX200 Up 3%, Big Caps Up 308%

Novartis Buys Spinifex For $916m

 

 

May BDI-40 Down 13.5%, ASX200 Down 3%
Big Caps Down 1%, NBI Down 4%

Psivida Up 30%, Cyclopharm 22%; Mesoblast Down 33%; Atcor 31%

June 1, 2017

The month of May was ... er … “very ordinary” for the Biotech Daily Top 40 Index (BDI-40) down 13.5 percent, compared to the ASX200 down 3.4 percent and the Nasdaq Biotech Index down 3.9 percent (see charts, below).

 

The loss of $1,060 million in value for the collective market capitalization of the BDI-40 was primarily due to the three largest companies, with Mesoblast losing $445 million or 33.0 percent of its value on no news, while Sirtex slid a further $205 million or 22.9 percent and Nanosonics shed $109 million or 10.7 percent.

 

From three companies worth more than $1 billion each, we currently have none.

 

The three Big Caps of Cochlear, CSL and Resmed (which are not included in the BDI-40) retreated 0.9 percent in May, with Cochlear up 4.8 percent, Resmed up 3.85 percent, but CSL down 2.5 percent. For the year to May 31, the Big Caps were up 12.9 percent.

 

Just eight of the BDI-40 companies were up, while 32 fell, 19 by more than 10 percent.

 

Mesoblast retained its title as the BDI-40’s largest company, but led the falls with a 33.0 percent tumble from $1,348 million to $903 million, followed by Atcor losing 30.8 percent from a much lower base to $9 million, along with Prana (26.5%), LBT (24.4%), Sirtex (22.9%), Actinogen (21.8%), Osprey (20.5%) and Universal Biosensors (20.25%).

 

Psivida was the best of the few, up $28 million or 30.1 percent to $121 million, followed by Cyclopharm (21.7%), Dimerix (15.4%), Genetic Signatures (10.8%), Bionomics (4.2%), Viralytics (3.9%), Factor Therapeutics (2.2%) and Clinuvel (0.3%).

 

On the Nasdaq, Aviragen (Biota) continued its downhill trajectory by 19.4 percent to $25 million, Queensland’s Protagonist rose just 11.4 percent to $254 million on a billion dollar Johnson & Johnson deal and Israel’s Redhill slipped 6.6 percent to $214 million.

 

Although Biotech Daily respects IDT’s considerable progress in its generics program, our first inclusion criterion for the BDI-40 is innovation. LBT returns to the Second 20, proving that was goes down can come up.

 

BDI-40 v S&P ASX200 Jun 30, 2006 to May 31, 2017 

 

 

BDI-40 v S&P ASX200 May 31, 2016 to May 31, 2017 

 

Big Caps (Cochlear, CSL, Resmed) May 31, 2016 to May 31, 2017