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(RDY) Dr. Reddy’s Laboratories Earns FDA Approval for Generic

July 14th, 2011

Dr. Reddy’s Laboratories (RDY) delivered yet another positive momentum within a week, as the US Food and Drug Administration (FDA) approved fondaparinux sodium injection, the company’s bioequivalent generic version of Arixtra. The drug is currently marketed by GlaxoSmithKline plc (GSK) for preventing deep vein thrombosis (DVT) in adults who are undergoing hip fracture, hip replacement, or knee replacement surgery.

Dr. Reddy’s received final approval from the FDA for the 2.5 mg/ 0.5 mL, 5.0 mg/ 0.4 mL, 7.5 mg/ 0.6 mL and 10 mg/ 0.8 mL doses of fondaparinux sodium injection.

Dr. Reddy’s will be manufacturing the generic version under license using a patented process that is developed by Australia based Alchemia Limited. The current approval comes close on the heels of the US launch of the generic version of Novartis AG’s (NVS) blood pressure drug, Lotrel.

Moreover, last month, Dr Reddy’s had announced the launch of its generic version of Johnson & Johnson’s (JNJ) antibiotic drug, Levaquin, in the US. Additionally in June 2011, the company announced the launch of three other generic products in the US. Dr Reddy’s lau

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Tags: Fda, Reddy’s Laboratories

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Stocks narrowly miss having worst week in a year (AP)

July 14th, 2011

A late rally Friday prevented the stock market from having its worst week in nearly a year.

Investors seemed to largely ignore the ongoing debate in Washington over raising the country’s borrowing limit. Troubling questions over Europe’s financial health and manufacturing in the U.S. weighed down stock prices for much of the day, overwhelming a very strong earnings report from Google Inc.

Google jumped nearly 13 percent, the most of any stock in the Standard and Poor’s 500 index, after the company said its revenue hit a record last quarter. Google’s earnings pushed tech stocks in the S&P index broadly higher. Microsoft Corp. and Cisco Systems Inc. each gained 1 percent.

Worries about Europe and weak factory output in the U.S. have kept traders’ expectations and stock prices relatively low since early this spring, said Ryan Detrick, senior technical strategist Schaeffer’s Investment Research. If corporate earnings remain strong and Europe stabilizes, he said, stocks might rally in the second half of the year. That happened last year, after fears about Europe held the stock market back all summer.

“With all the talk about European debt and the U.S.

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Tags: Worst Week, Year

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Business Inventories Rise 17th Consecutive Month; Will Sales Follow?

July 13th, 2011

Yahoo Finance reports Business stockpiles rose for 17th month in May

Businesses added to their stockpiles for a 17th consecutive month in May. But sales fell for the first time in nearly a year, a sign that many companies could be forced to trim supply levels if the economy weakens.

The Commerce Department says business supply levels grew 1 percent in May. Sales fell for the first time in 11 months. It was the worst showing for sales since June of last year.

May’s rise in inventories pushed total stockpiles to $1.51 trillion. That’s up more than 14 percent from the recent low of $1.32 trillion reached in September 2009, when businesses were slashing inventories to control costs in the wake of the deep recession.

Inventories rose at all levels of business. Stockpiles held by manufacturers rose 0.8 percent. Inventories held by wholesalers rose 1.8 percent.

Retailers only increased their stockpiles 0.4 percent. That small rise reflected a 0.7 percent increase in inventories of autos and auto parts and declines in inventories of furniture and building materials.

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Tags: 17th Consecutive, 17th Consecutive Month, Consecutive Month, Sales

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Options Combo-Play Sees Multi-Year Highs Ahead For Electronic Arts

July 13th, 2011

      Today’s tickers: ERTS, SNE, EAT & ETR

ERTS - Electronic Arts, Inc. – Shares in the video game developer may rally to their highest in more than two years by January 2013 expiration according to three-legged bullish plays initiated in Electronic Arts options this morning. Earlier this week the company announced an agreement to acquire PopCap Games, which makes games for mobile phones, tablets, PCs and social networking sites, in a cash and stock deal valued at up to $1.3 billion. Shares in Electronic Arts are currently up 0.50% to arrive at $23.63 as of 11:30 am ET. Long-term bullish investors eyeing fresh multi-year highs by Jan. 2013 expiration appear to have sold put options on the stock in order to partially offset the cost of debit call spreads. Traders sold around 5,000 puts at the Jan. 2013 $17.5 strike at an average premium of $1.42 each, purchased around the same number of calls up at the Jan. 2013 $25 strike for an average premium of $3.67 per contract, and sold some 5,000 calls at the Jan. 2013 $30 strike at an average premium of $1.97 a-pop. Average net premium paid to initiate the three-way trade amounts to just $0.28 per contract. Investor

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Tags: Arts, Electronic Arts

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Jobless Thursday – Bernanke Gets 2nd Chance to Give Us Hope

July 13th, 2011

We got nothing useful from Bernanke yesterday.  

Thats not stopping the futures from running the Dow up 100 points off of yesterdays bottom (8am) though because were back to that kind of BS market where you go long at the close (or after the close as was yesterdays case) and then short after the morning pop because the data (reality) is TERRIBLE but the manipulation is so rampant that its reliable.  

Fortunately, we have our 5% rule to guide us and we havent had a reason to change these charts in months as the market is obeying our range perfectly.  Heck, these are the same lines weve been using since last November as the market is right where we predicted it would be for Q2 earnings.  

Speaking of earnings:  So far, so-so is the verdict with fairly uninspiring reports although JPM came in pretty well this morning, which suits us just fine because its one of the few specific financials were long on.  Tomorrow morning we hear from C and FHN that should be a lot more interesting than JPMs report (5% beat).  

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Tags: Bernanke, Bernanke Gets

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Top Pink Sheet Pick; Smart Holdings News drives 34% Gains

July 13th, 2011

Shares of Smart Holdings Inc. (PINK: SMHS), a Marietta, Georgia-based company engaged in the sale of automotive extended service plans on a nationwide basis, soared more than 35% in today’s trading after the company’s wholly owned subsidiary, Assurance Group Direct, announced that it set a date to launch its drug sales program on national TV.

Assurance Group intends to launch a national TV campaign offering U.S. FDA-approved brand name and generic drugs as early as July 25.  The company expects to reach millions of viewers through the TV campaign and is specifically targeting the growing senior population.

Assurance Group also said that the program has the potential to supplement many insurance plans as well as provide huge savings for the over 40 million uninsured.

 

Tags: Holdings, Smart Holdings

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