Biotech Values

[ghmm]

HALO:

I am not sure management is 100% trustworthy but if they are and given that Roche by all indications is planning on submitting MabThera than this is limited to Plasma derived products. That is why they indicated it was HyQ and sub-q cinryze. Viropharma is going forward with their own sub-q (they had a PR today) isn't a plus for HALO either.

It sounds like the Plasma resolution will take some time. Baxter's PR is worded like they know what data to submit to FDA. HALO seemed to indicate they need to meet with FDA and figure out what data they want.

Still if everything with Herceptin and Mabthera is uneffected the valuation is pretty cheap IMO. Its understandable though if people doubt management.

Longer term I like their other two molecules (I am not sure if PEG-PH20 may have some questions though from this).

disclosure: I am still long a fair amount.