Market Thoughts for Wednesday August 11th

The market took a hammering today but some stocks actually performed or are now great buys. The DOW Industrial average DIJA is closing sharply lower today at 10379. That's a 265 drop from yesterdays close of 10644 and a 2.49% decline as Global Fear strikes domestic and foreign markets.

Today's top performers in BioPharma for August 11th.

Biotech

1. Iris BioTechnologies Inc (Public, OTC:IRSB) 1.79 +0.30 20.13%

2. Spherix Incorporated (Public, NASDAQ:SPEX) 1.57 +0.22 16..30%




3. Cypress Bioscience, Inc. CYPB 3.80 +0.15 4.11%



Top Pharmaceutical Performers

1. Jazz Pharmaceuticals, Inc. JAZZ 10.50 +1.05 11.11% gain



2. Takeda Pharmaceuticals TKPHF traded slightly up to 46.55% in foreign market trading on Nasdaq.


Stocks I am following that are at a discount after today's trading.

1. Biovail BVF 22.62 -0.44 -1.91%

Biovail is acquiring Valeant Pharmaceuticals at the end of the year and Valeant gained FDA recommendation for Protiga today. FDA Panel Backs Proposed Epilepsy Drug

2. Avanir AVNR 3.10 -0.13 -4.02%

3. Arena Pharmaceuticals 7.14 -0.20 -2.72%

4. Biodel, Inc. BIOD 3.97 -0.11 -2.70%

5. DepoMed DEPO 3.70 -0.11 -2.89

6. LadoPharm DDSS 1.12 -0.08 -6.67

There are really too many buys to list with such a hammering the market took today. All the big name drug companies are down 2-5%

Related articles

• Valeant and Biovail Announce Results of Special Meetings of Shareholders (eon.businesswire.com)
• Valeant and Biovail Announce Valeant's Intention to Declare a Special Dividend to Valeant Stockholders upon Obtaining Shareholder Approval, Financing and Satisfaction of Other Closing Conditions (eon.businesswire.com)
• Valeant and Biovail Complete Merger (prnewswire.com)
• Valeant and Biovail Set Date for Shareholders Meetings (eon.businesswire.com)
• U.S. FDA Panel Backs GlaxoSmithKline, Valeant Pharmaceuticals International Epilepsy Drug; Stock Rises (biospace.com)
• Biovail and Valeant shareholders approve merger (financialpost.com)