DALLAS, Texas 8/18/2008 11:39:13 PM
News / Finance

Beacon Equity Issues Technical Trade Alerts on Biotechnology Stocks: ELN, PFE, AMGN, DNA, BIIB, GILD

Today’s Trade Alerts include: Elan Corp. plc (NYSE: ELN), Pfizer Inc. (NYSE: PFE),  Amgen Inc. (Nasdaq: AMGN),  Genentech Inc. (NYSE: DNA), Biogen Idec Inc. (Nasdaq: BIIB), and Gilead Sciences Inc. (Nasdaq: GILD).

Elan Corp. plc (ELN) shares fell 4.62% to $13.42 in Monday’s late-morning trading. Elan operates as a neuroscience-based biotechnology company primarily in Ireland and the United States. The company recently received first-round bids for its drug delivery unit and is hoping for a quick sale of the business, which may amount to as much as $1.3 billion to $1.4 billion...

With the move to spin off Elan Drug Technologies (EDT), which develops new formulations of medicines on a contract basis for other drugmakers, Elan will now be focused on its own biotech drugs.  The split has recently gained importance following renewed safety concerns over multiple sclerosis drug Tysabri and disappointment with tests of an experimental Alzheimer's therapy

Elan operates in two segments, Biopharmaceuticals and Elan Drug Technologies (EDT).  The Biopharmaceuticals segment engages in research, development and commercial activities primarily in Alzheimer's disease, Parkinson's disease, multiple sclerosis, Crohn's disease, severe chronic pain and infectious diseases...”

Pfizer Inc. (PFE) shares slipped less than 1% to $19.87 Monday near noon.  Pfizer engages in the discovery, development, manufacture and marketing of prescription medicines for humans and animals worldwide

Pfizer recently entered a vaccine deal with Cytos, wherein Cytos will receive an upfront payment of 150 million Swiss francs ($138 million) and potential further milestones, according to the company.  In return, the agreement will allow Pfizer to acquire world-wide exclusive rights to commercialize certain vaccines, based on Cytos Biotechnology's Immunodrug technology

According to Cytos, the exclusive global research, option and license agreement aims to research, develop, manufacture and commercialize novel vaccines for a defined number of human diseases…”

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