Biotech Stocks in News (PLX, WPI, GEN)

Protalix BioTherapeutics Inc. (AMEX: PLX): Protalix BioTherapeutics Inc. has said that France’s health regulator has temporarily approved the use of its experimental drug for Gaucher’s disease, a rare genetic ailment. The announcement comes the day after the company’s stock fell 4.7% as Protalix said the U.S Food and Drug Administration set a target date for deciding on the drug’s approval that was later than the Israeli Pharmaceutical company projected last month.

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Protalix shares are currently up 2.66% to $6.18. The company’s shares have a 52-week price range of $4.90-$12.50. The company’s shares have a 50-day moving average of $6.43 and a 200-day moving average of $7.51.

Watson Pharmaceuticals Inc., (NYSE: WPI): Watson Pharmaceuticals Inc. today confirmed that it has applied to U.S Food and Drug Administration seeking approval to market sevelamer carbonate for oral suspension, 0.8g and 2.4g per packet. This product is a generic version of Genzyme’s Renvela kidney failure product.

Watson shares are currently up 1.06% to $43.03. The company’s shares have a 52-week price range of $32.61-$44.97. The company’s shares have a 50-day moving average of $42.84 and a 200-day moving average of $39.91.

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Genzyme Corporation (NASDAQ: GENZ): Genzyme Corporation sued Watson Pharmaceuticals in the federal court of Maryland to prevent Watson from commercializing its product Sevelamer Carbonate, prior to the expiration of U.S Patent No: 5,667,775.

Genzyme shares are currently up 0.86% to $54.20. The company’s shares have a 52-week price range of $45.39-$60.15. The company’s shares have a 50-day moving average of $51.16 and a 200-day moving average of $52.82.

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