Biotech Veteran Has Great Year

Chidem Kurdas
Specialist funds often remain under institutional

Will Funds Return to Europe?

Chidem Kurdas

In a way it’s a chicken-and-egg story. Fund managers

Pharma Trades Not Deterred by Uncertainty

Chidem Kurdas

Despite legal and market challenges, pharmaceutical and biotech stocks remain a wellspring of investment strategies. A popular play recently

BlackRock Fund, Biomedical Expertise Popular

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

Cerberus Chief Gets Grifols Stock

Having sold an interest in Talecris Biotherapeutics to Grifols SA, a Spanish company with worldwide biopharmaceutical and other medical businesses, Cerberus Capital

Health Funds Get Favored Terms

Chidem 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,

Cerberus Biotech Deal Attracts Traders

Chidem 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. 

SAC Tries for Bull’s Eye

Chidem 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.

Renaissance, Viking Like Pfizer, Biopharma

Chidem 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.

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