Australian biotech market watch 16/10/09

It looks like the rally experienced by the All Ordinaries this week has finally begun to falter, led by a slip in bank stocks. As of 3pm this afternoon the All Ords was at 4,846, down 16 points for the day.

Heath stock fared a little better, with the S&P/ASX 200 Health Care index rising in the morning and dropping back to its open around 8,509.

Biota Holdings (ASX:BTA) continues its prodigious run, up another 15c today, to $3.42. Just for the record, Biota is up 918% YTD. Makes you think.

Primary Health Care (ASX:PRY) also had a positive day, lifting by 15c, or 2.5%, to $6.25, recovering some of the losses experienced during the week.

Pharmaceutical company, Acrux (ASX:ACR), developers of testosterone deficiency treatment, Axiron, bumped up 5c to $1.83.

ResMed (ASX:RMD) managed to put on 10c to $5.31, up 1.7%, after a week of ups and downs.

Sonic Health Care (ASX:SHL) continued its gains from Thursday, up 1% today to $13.85.

Cochlear (ASX:CHO) remains mainly steady, although a slight afternoon dip as shaved 59c from it stock, to $64.88. Blackmores (ASX:BKL) also shed 0.5% to $21.70.

Healthcare products specialist, Ansell (ASX:ANN), has maintained much of its gains received mid-week after it announced earnings were higher than expected for this quarter, dipping slightly to $10.68 today from its high of $10.95 on Wednesday.

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