Chidem Kurdas
Healthcare hedge funds have outperformed long/short equity so far this year. The sector remains popular with investors, in particular funds of funds, despite uncertainty created by the new healthcare law. BlackRock (more…)
Archive for the ‘Pharmaceuticals’ Category
Cerberus Chief Gets Grifols Stock
August 23, 2011Having sold an interest in Talecris Biotherapeutics to Grifols SA, a Spanish company with worldwide biopharmaceutical and other medical businesses, Cerberus Capital (more…)
Health Funds Get Favored Terms
August 5, 2011Chidem Kurdas
Investors desiring long/short exposure to specific sectors have accepted lengthier lock-ups for certain managers that specialize in areas like healthcare. Thus Expo Capital Management, (more…)
Cerberus Biotech Deal Attracts Traders
June 3, 2011Chidem Kurdas
Stephen Feinberg must be glad that he held on to a big stake in Talecris Biotherapeutics after the 2009 initial public offering. Mr. Feinberg’s Cerberus Capital owned Talecris in partnership with another firm. (more…)
SAC Tries for Bull’s Eye
July 14, 2010Chidem Kurdas
Steve Cohen’s Alcon trade has been fascinating. Alcon Inc. specializes in eye care products, primarily drugs and devices. It was the largest position held by Mr. Cohen’s SAC, with stock and options worth about $460 million as of April. (more…)
Renaissance, Viking Like Pfizer, Biopharma
June 23, 2010Chidem Kurdas
Despite uncertainty about new medications, bio-pharmaceutical companies have attracted significant investments from large hedge funds such as Omega Advisors, Renaissance Technologies and JP Morgan’s Highbridge.
Pfizer Inc. was a magnet for both the fundamentals-based stock pickers at Viking Global Investors and the quantitative traders at Renaissance—two very different equity strategies, apparently converging on the same pharmaceutical company. Renaissance’s holding in Pfizer was worth more than half a billion dollars as of April.
Bio-pharmaceutical businesses thrive on innovation—-the problem is, the number of new medications slumped since the 1990s. But Pfizer’s research and development head Rod MacKenzie says he’s optimistic. “We’re at a very interesting place in the R&D cycle,” he said, during a presentation at the Argyle Executive Forum yesterday. (more…)
