E Volatile Markets

BeiGene got a waiver to allow the eventual new issue of new ADRs equal to 13 Hong Kong shares. Lawyers Anglo-Chinese Corporate Finance backed the proposed change based on precedents. Most rights allowed discounts or premiums for new purchases, not be the case here. I plan to vote Aye. Having US major shareholders is a plus for ADRs. Amgen got into BeiGene to distribute its Brukinsa (Zanubrutinib) cancer drug outside China. BeiGene now has another oncology line from Amgen, Celgene Logistics (a sub of Bristol-Myers, BMY, which I own) and EUSA Pharma, a UK-listed MSCI exchange-traded fund (ETF) conducting Italian clinical trials for Siltuximab, Sylvant, an antibody which neutralizes interleukin-6 Cytokine against Covid-19 acute respiratory distress syndrome from cytokine storms plus other inflammations. BeiGene has China rights to Sylvant. Its stock gained.

*Teva rose 4.4% in Israel and Europe today after it signed a deal on Digihaler with the digital health platform of Amazon and Rackspace sub Orica. This uses wireless bluetooth to connect wirelessly with the cloud. TEVA was also helped by privately owned Purdue pleading guilty to 3 criminal charges over its Oxycontin drug sales, kickbacks and fraud beyond anything Teva did. They were fined $8.34 bn.

*Bonus US stock Thermo Electron, make of testing systems, beat with EPS of $5.63 (vs consensus $4.31). It was rated 1 by Value Line for US investors and given a $488.60 target price. It is my largest holding in this sector. It rose a tiny bit in today's trading to $466.98 but now is down nearer its TP. I am not selling because I have owned it 50 years thanks to the late Dean Witter's late David Karrick.

*Astra-Zeneca AZN is expected to resume its US corona vaccine trials in the US this week. AXN recipients of its drug developed dangerous symptoms as later also hit other trials.

*Bristol-Myers BMY fell 0.65% today on matters not relating to BeiGene, mounting competition on cancer immunotherapy, including a drug for leukemia by AZN.

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William K. 3 months ago Member's comment

An interesting introduction indeed. I do not judge and pass sentence on what others do, although I certainly may have opinions. And if the Government in China asks for my advice I will provide it, if not, then not. That goes for the Pope as well. I respect a much higher authority than either of those.

And certainly the markets are being a bit volatile, which is because of the emotions of those fearful folks involved. Those who are chained to fears will be led by them, that is how it works.