Biotech Business Daily (BIIB, GSK, ILMN, IVGN, LJPC, SIRT, STEM)

Health and Healthcare

Published: April 23, 2008 11:55 am

Biogen Idec (NASDAQ: BIIB) is sliding marginally despite reported earnings today that showed a 23% increase in earnings riding on sales growth on Avonex and Rituxan. The earnings beat estimates and the company raised its outlook. Shares are down $1.06 to $63.56 on a 52-week range of $45.77 to $84.75.

GlaxoSmithKline (NYSE: GSK) is up a marginal 1.5% to $44.42 on a 52-week range of $40.51 to $59.15. Today, the company showed a 13% decline in profit due to increased generic purchases that cut into sales on anti-depressants and heart medications. Yesterday, the company offered to purchase Sirtris Pharmaceuticals for $720 million.

Illumina Inc. (NASDAQ: ILMN) shares are up $8.12, 11%, after solid first quarter earnings that beat estimates and a strong positive outlook. The company posted earnings of $13.4 million after showing a loss of $298 the same quarter last year. Shares are trading at $80.59 and the 52-week range is $31.66 to $79.90.

Invitrogen Corp. (NASDAQ: IVGN) is up 7% after first quarter earnings showed doubled profit on sales increases, beating estimates. The company posted earnings of $58.7 million and $1.19 EPS. Shares are trading at $93.73 on a 52-week range of $65.00 to $99.15.

La Jolla Pharmaceutical Co. (NASDAQ: LJPC) reported positive results on interim antibody data on Riquent for treatment of lupus. Lupus is a condition in which antibodies attack tissues. The results showed that higher dosages of the treatment reduced levels of antibodies more effectively. The late stage trial is expected to close in the second half of 2009. Shares are up 18% to $2.15 on a 52-week range of $1.45 to $7.10.

Sirtris Pharmaceuticals, Inc. (NASDAQ: SIRT) is seeing shares up a whopping 82% after GlaxoSmithKline (NYSE: GSK) offered to buy the company yesterday for $22.50 per share, an 84% premium to Tuesday’s close, for a total value of $720 million. Sirtris focuses on enzymes that affect the aging process and is developing a type-II diabetes treatment. Sirtris shares are up $10.07 to $22.30. The 52-week range is $9.50 to $21.99.

StemCells (NASDAQ: STEM) received a patent for neural stem cells from all tissue sources. This patent will require all other third parties seeking to commercialize neural stems cells to obtain a license from StemCells. Shares are up $0.18 to $1.55, a 13% jump. The 52-week range is $1.00 to $2.83.

Rachel Lopez
April 23, 2008

Travel Cards Are Getting Too Good To Ignore (sponsored)

Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.

We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.

It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.

We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.