Genomic Health, Insmed Lead as Biotechs Gain

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By Douglas A. McIntyre Published
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From BioHealth Investor

by H.S. Ayoub
BioHealth Investor.com

Both the Nasdaq (^NBI) and Amex (^BTK) biotech stock indices gained on Wednesday as biopharmaceutical and medical device stocks had a generally good day on Wall Street.

Shares of Genomic Health (GHDX) jumped more than 18% to $24.48 as the company’s Oncotype DX cancer test will now be covered by UnitedHealth (UNH). The DX tests the probability of breast cancer recurrence of diagnosed patients.

Insmed Inc. (INSM) gained more than 22% to $1.26 after the Italian Ministry of Health requested that the company make IPLEX available to physicians treating patients with Amyotrophic Lateral Sclerosis (ALS), or Lou Gehrig’s Disease. The request came after Italian courts ordered the Italian National Health System to provide the drug to patients who have petitioned for its use. Insmed will provide IPLEX through an agreement with Cephalon (CEPH) who has patent rights to the drug.

http://www.biohealthinvestor.com/

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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