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Biotech stocks got walloped today (September 21) after a startup pharmaceutical company named Turing Pharmaceuticals boosted the price of a drug overnight from $13.50 to $750 a tablet. It's a 62-year-old drug for treating life-threatening parasitic infections that affects some AIDS and cancer patients.

Martin Shkreli

Martin Shkreli

from Twitter

Turing is headed by Martin Shkreli, a young, former hedge-fund popinjay who defended the price leap and said he has no plans to rescind it. Presidential candidate Hillary Clinton denounced the move as price-gouging. Candidate Bernie Sanders also chimed in against it.

Biotech stocks got hit hard. They had been on a long run-up and this spring began returning to earth.

Among San Diego biotechs, Halozyme Therapeutics dropped 4.96 percent to $18.22; Illumina dropped 4.16 percent to $200.19; ISIS Pharmaceuticals plunged 7.99 percent to $50.20; La Jolla Pharmaceutical plummeted 8.42 percent to $38.18; Ligand Pharmaceuticals dropped 3.96 percent to $97.90; and Neurocrine Biosciences got machine-gunned 8.6 percent to $50.18.

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Comments

shirleyberan Sept. 21, 2015 @ 7:50 p.m.

Don - I don't care who espouses what effective; again I heard that cancer chemo can move a cancer to another location because of treatment.

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Don Bauder Sept. 21, 2015 @ 8:31 p.m.

shirleyberan: I am not aware of what you say but I have done no reading on that topic so I plead ignorance. Best, Don Bauder

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Don Bauder Sept. 21, 2015 @ 8:33 p.m.

Emmett McMahon: Sorry. I don't know what you are alluding to. Best, Don Bauder

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Twister Sept. 21, 2015 @ 9:15 p.m.

Look at that smirk and the vacant, asocial eyes. Sociopath?

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Don Bauder Sept. 22, 2015 @ 7:16 a.m.

Twister: There is no way to tell a sociopath by looking at a photo. Shame on you, Twister. Best, Don Bauder

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Twister Sept. 22, 2015 @ 9:19 p.m.

I saw 'im on TeeVee tuday, and he spoke and acted like a sociopath. Give me your garden-variety Frankenstein any day over that kind of creep.

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MURPHYJUNK Sept. 23, 2015 @ 8:34 a.m.

the kind of person that needs his clock cleaned on a regular basis

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Don Bauder Sept. 23, 2015 @ 10:41 a.m.

Murphyjunk: Knock that chip off his shoulder, and in doing so, give him a punch in the ear. Best, Don Bauder

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Don Bauder Sept. 23, 2015 @ 10:38 a.m.

Twister: Yes, I saw him on TV, too, and I have to agree with you on second thought. However, remember that in the original copy I called him a popinjay, which is not a compliment. Best, Don Bauder

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Don Bauder Sept. 22, 2015 @ 7:17 a.m.

Dennis Hull: Beware when hedge fund and private equity folks try running a company. Best, Don Bauder

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Duhbya Sept. 22, 2015 @ 11:35 a.m.

The "pill"aging of

America continues.

...Duhb.

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Don Bauder Sept. 22, 2015 @ 12:13 p.m.

Duhbya: Welcome back, superior punster. Best, Don Bauder

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Twister Sept. 22, 2015 @ 9:20 p.m.

Agreed. But you COULD wipe that smirk off yer face!

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Don Bauder Sept. 23, 2015 @ 10:43 a.m.

Twister: Whose face? Mine or Duhbya's? Best, Don Bauder

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Don Bauder Sept. 24, 2015 @ 7:13 p.m.

Twister: Again: whose pic? Best, Don Bauder

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Duhbya Sept. 26, 2015 @ 4:02 p.m.

His name was Reebok.

Mine is Duhbya.

RIP, Reebok.

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Don Bauder Sept. 27, 2015 @ 6:22 a.m.

Duhbya: Are you absolutely certain that the name your parents gave you at birth was Reebok? Best, Don Bauder

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Duhbya Oct. 2, 2015 @ 12:49 a.m.

Not certain, but that's what my Dad, Nike, and my Mom, Adidas, told me.

Almost mythological, I admit. My brother, Bigfoot, got the worst of it, methinks.

Double ya...

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Twister Sept. 27, 2015 @ 12:03 p.m.

W, ours' name was Gordo, a long-haired battler of a garbage-can-specialist tuxedo gato.

RIP Gordo.

Tw

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Duhbya Oct. 2, 2015 @ 12:56 a.m.

Sounds like a formidable rapscallion, indeed.

DBYA

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Duhbya Oct. 10, 2015 @ 1:47 p.m.

Don-After a year of waiting for my provider to get the gmail problem resolved, I found another provider that works better for me. With my time growing short, it doesn't make sense for me to get a new phone. Can you tell me how to get in touch with the Reader administrators? I will want to keep the Duhbya and the cat avatar. The email is all caps, although I'm not sure that matters. It is

[email protected]

Thanks so much for indulging my incessant pestering.

John

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jnojr Sept. 22, 2015 @ 1:03 p.m.

So, first, was the $13.50 a pop price heavily subsidized? If so, by whom? And if the drug really is 62 years old, the patents have long expired, and anyone can make a generic copy.

Come on, Don, you can write a better, deeper-reaching article than this. It looks like you were quick to decry him and his actions rather than find out what's really going on.

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Don Bauder Sept. 22, 2015 @ 2:12 p.m.

jnojr: According to the New York Times, the name of the drug is Daraprim, and several years ago it cost only $1 a tablet. Daraprim's distribution is tightly controlled, making it harder for generic drug companies to get the samples they need.

The Infectious Diseases Society of America and the HIV Medicine Association wrote a joint letter to Shkreli, saying the sharp price increase was "unjustifiable for the medically vulnerable population" and "unsustainable for the health care system."

While he headed a hedge fund, he urged the FDA not to approve certain drugs made by companies whose stocks he was shorting, according to the Times. In 2011, he started a company, Retrophin, which bought old, neglected drugs. The Retrophin board fired him and last month filed a suit accusing him of using Retrophin to pay back angry investors in his hedge fund, according to the Times. Best, Don Bauder

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eastlaker Sept. 22, 2015 @ 3:55 p.m.

I hope the Retrophin board's lawsuit gives him more than just something to think about.

I have seen several photographs of this young man, and he does rather excel at portraying self-satisfaction. I guess it is all a big game to him, and people's lives and health don't really factor in, unless as contributing factors to his bottom line.

Insular, insulated, infinitesimal sense of what it means to be human.

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Don Bauder Sept. 22, 2015 @ 7:38 p.m.

eastlaker: Late today (Tuesday) he backed down and said he will lower the price. We will have to wait and see if he follows through meaningfully. Best, Don Bauder

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eastlaker Sept. 22, 2015 @ 8:14 p.m.

Yes, and it was reported he tried the same tactic on a med for children with kidney disease when he headed another pharm company. The one that asked him to leave. He must like publicity and believe the old saw that there is no bad publicity.

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Don Bauder Sept. 23, 2015 @ 10:48 a.m.

eastlaker: He should run for president. He might be leading in the polls now. Best, Don Bauder

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Twister Sept. 22, 2015 @ 9:24 p.m.

As a kid he probably pulled the wings off flies and tortured cats and dogs.

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Don Bauder Sept. 23, 2015 @ 10:50 a.m.

Twister: And put cats in the clothes dryer? Best, Don Bauder

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Twister Sept. 24, 2015 @ 6:59 p.m.

Naw . . . tied their tails together with balin' wire and threw them over the transmission lines.

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Don Bauder Sept. 24, 2015 @ 7:09 p.m.

Twister: Goodness! You will hear from PETA. Best, Don Bauder

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Twister Sept. 24, 2015 @ 7:51 p.m.

U R mixed up 'bout whom we're talkin' 'bout. Anybody who would do that should have been ground up for peta fooda.

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Don Bauder Sept. 25, 2015 @ 7:28 a.m.

Twister: How about the person who dreamed up the idea? Should he be throw over the transmission lines? Best, Don Bauder

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Twister Sept. 25, 2015 @ 2:40 p.m.

I don't know his (no female would ever think of doing such a thing) fate, but I presume that it was something like burning in hell. However, such people sometimes seem to live charmed lives. Hell is no deterrent--that's home.

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Don Bauder Sept. 26, 2015 @ 1:16 p.m.

Twister: The threat of being condemned to hell for eternity works with some people, but not sociopaths. Best, Don Bauder

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Don Bauder Sept. 23, 2015 @ 10:47 a.m.

eastlaker: What I can't understand is why people think he is a genius. Apparently, his hedge fund did poorly. He has made a monumental blunder in raising the price of a 62-year-old pill so drastically. Best, Don Bauder

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eastlaker Sept. 24, 2015 @ 9:05 a.m.

Right. If he had been successful as a hedge fund manager, he would still be a hedge fund manager. That aggressive mentality must be leading him to search for "opportunities". Kind of worries me, because this approach can destabilize just about anything.

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Don Bauder Sept. 24, 2015 @ 7:10 p.m.

eastlaker: Apparently he has been successful buying old medicines. Best, Don Bauder

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Don Bauder Sept. 22, 2015 @ 2:18 p.m.

BIOTECHS GOT BELTED AGAIN TODAY. Biotech stocks got hit again today (September 22), although the overall market was clobbered. Among San Diego biotechs, ISIS was down 3.92 percent, Illumina was down 3.55 percent and Halo Therapeutics was down 4.67 percent. Best, Don Bauder

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Don Bauder Sept. 23, 2015 @ 3 p.m.

John Oliver: Suppose you can't find any other lender? Best, Don Bauder

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jnojr Sept. 25, 2015 @ 4:29 p.m.

Nobody has a "right" to borrow money. Money is lent by people who weigh the risk of losing their money against the potential profit. If someone isn't a good credit risk, they must pay high interest rates, or nobody will lend to them at all.

You should know this.

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Don Bauder Sept. 26, 2015 @ 1:19 p.m.

jnojr: It's not as simple as that. See the item about the former La Jolla Bank above. There are many complications in banking, such as having employees who take bribes. Best, Don Bauder

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Don Bauder Sept. 23, 2015 @ 3:03 p.m.

Mike Murphy: Many people complain that they could get medicines from Canada for a fraction of the U.S. price. But Big Pharma has the system rigged so people can't get them from Canada. Best, Don Bauder

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MURPHYJUNK Sept. 24, 2015 @ 2:01 p.m.

all meds or just this one?

I've had no problems so far.

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Don Bauder Sept. 24, 2015 @ 7:12 p.m.

Murphyjunk: It's my understanding that a number of drugs can't make it from Canada to the U.S. Best, Don Bauder

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Don Bauder Sept. 25, 2015 @ 1:50 p.m.

BIOTECHS BELTED AGAIN. Analysts are beginning to say that investors should think about selling their biotech stocks, as the slaughter continued today (September 25). The collection of biotech stocks on the Nasdaq, with the ticker symbol IBB, a good proxy for biotechs in general, ended at $310.24 today. It had hit $398 on July 20.

San Diego biotechs continued to get hammered. The two local ones competing in the market for weight control treatments shed a lot of weight today: Arena Pharmaceuticals was down 13.51 percent to $2.25. Orexigen Therapeutics, another weight loss company, dropped 7.14 percent to $2.08.

Among other local biotechs, Halo Therapeutics plummeted 8.77 percent to $16.02, Illumina dropped 6.77 percent to $177.54, and Isis Pharmaceuticals dipped 4.16 percent to $43.98. Best, Don Bauder

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Twister Sept. 25, 2015 @ 3:05 p.m.

'Upon what meat doth this fair sees 'er feed, that he hath grown so greasy?'

The greedy doth feed on the needy. And cannibalize on the greedy too.

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Don Bauder Sept. 25, 2015 @ 3:14 p.m.

Twister: "The greedy doth feed on the needy." That is a pithy summation of our society these days. Best, Don Bauder

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Twister Sept. 26, 2015 @ 5:41 p.m.

A "society" that is asocial is suicidal.

http://www.etymonline.com/index.php?term=social social (adj.) Look up social at Dictionary.com late 15c., "devoted to or relating to home life;" 1560s as "living with others," from Middle French social (14c.) and directly from Latin socialis "of companionship, of allies; united, living with others; of marriage, conjugal," from socius "companion, ally," probably originally "follower," from PIE sokw-yo-, suffixed form of root sekw- (1) "to follow," and thus related to sequi "to follow" (see sequel). Compare Old English secg, Old Norse seggr "companion," which seem to have been formed on the same notion). Related: Socially.

Sense of "characterized by friendliness or geniality" is from 1660s. Meaning "living or liking to live with others; companionable, disposed to friendly intercourse" is from 1720s. Meaning "of or pertaining to society as a natural condition of human life" first attested 1695, in Locke. Sense of "pertaining to fashionable society" is from 1873.

Social climber is from 1893; social work is 1890; social worker 1886. Social drinking first attested 1807. Social studies as an inclusive term for history, geography, economics, etc., is attested from 1916. Social security "system of state support for needy citizens" is attested from 1907 (the Social Security Act was passed by U.S. Congress in 1935). Social butterfly is from 1867, in figurative reference to "flitting."

Social contract (1763) is from translations of Rousseau. Social Darwinism attested from 1887. Social engineering attested from 1899. Social science is from 1785. In late 19c. newspapers, social evil is "prostitution." Social justice is attested by 1718; social network by 1971; social networking by 1984; social media by 2008.

social (n.) Look up social at Dictionary.com "friendly gathering," 1870, from social (adj.). In late 17c. it meant "a companion, associate."

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Don Bauder Sept. 26, 2015 @ 6:46 p.m.

Twister: Social Darwinism of more than a century ago was deleterious to society. Social Darwinism was the alibi for excessive topside earnings -- income inequality. It's a wonder it's not used in these days. Best, Don Bauder

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Twister Sept. 29, 2015 @ 10:59 a.m.

"Social" Darwinism always has been bogus; a complete misunderstanding largely fostered by Hobbes' ". . . red in tooth and claw" statement that seems to persist, even in "educated" circles.

What distinguishes Homo sapiens (other than being the sappiest species), is that he will fight and die for an IDEA. And if that ain't psychopathic, you can kiss my a$$!

Tw

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eastlaker Sept. 27, 2015 @ 10:56 a.m.

Hearty compliments on the excellent usage of "popinjay"! Much better than twerp or skeeze!!!

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Don Bauder Sept. 28, 2015 @ 2:42 p.m.

eastlaker: "Popinjay" is used in one of the Gilbert & Sullivan operettas. I think it's Yeomen of the Guard, which is a later G&S work that is most like an opera. It is a beautiful work, and popinjay is a very useful, almost self-descriptive word.

A word with a somewhat similar meaning, also a pejorative, is "dandiprat." It is more self-descriptive than popinjay. Best, Don Bauder

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Twister Sept. 28, 2015 @ 3:50 p.m.

Don' pejor yerself, Don! Ha-ha-ha-HA-ha . . .

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Don Bauder Sept. 29, 2015 @ 7:11 a.m.

Twister: Go ahead and laugh. Best, Don Bauder

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Don Bauder Sept. 29, 2015 @ 2:17 p.m.

YES, GILBERT & SULLIVAN USED "POPINJAY": As I thought, it is from Yeomen of the Guard, one of the greatest of the G&S operettas, and a favorite of both Sullivan and Gilbert.

It is sung by the jester, Jack Point, who has lost his love to another man. He says he has a song to sing:

"It's a song of a popinjay, bravely born, who turned up his noble nose with scorn At the humble merrymaid, peerly proud, who loved a lord, and who laughed aloud At the moan of the merryman, moping mum, whose soul was sad, and whose glance was glum....

No one writes amazing lyrics like that these days. Best, Don Bauder

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eastlaker Oct. 1, 2015 @ 9:13 a.m.

Yes, the lyrics of G & S operettas are endlessly entertaining.

The snickersnee bit is one of my faves.

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Twister Sept. 27, 2015 @ 12:21 p.m.

This is a test. "Reply" functions not working!

[This post failed three or four times!]

A "green" woodpecker. Ha-ha-ha-HA-ha . . . ha-ha-ha-ha-ha-ha-ha-ha-ha-ha-ha-ha-ha-ha!

Tw

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Twister Sept. 27, 2015 @ 12:31 p.m.

There may be a computer fuknction that automatically disallows the word "woodpecker" to be divided into two words, as in the original post. In addition, I reduced the number of ha-ha's too, as upon the fourth or fifth try even woodpecker wouldn't post.

Anyone else run into this problem?

Tw

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Don Bauder Sept. 28, 2015 @ 2:46 p.m.

Twister: If you ask me -- and you didn't -- the word "woodpecker" should not be divided into two words. It is definitely one word. I'm sure that wooden pecker will work. Ha Ha. Best, Don Bauder

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Twister Sept. 28, 2015 @ 3:47 p.m.

Curses! Foiled AGAIN, by the tree-top tall intellect, the Donald! I do like your version better, and it doesn't actuate the righteous software.

(Side story: Many years ago when I was using Wordperfect 4.0 or 4.6, (the offices were in Utah at the time) I tried to write Homo sapiens into a document. When I used the speller/grammar-checker, I got the stern message concerning Homo: "Please do not use this homophobic term, etc., etc.")

BEWARE! YOU ARE BEING OBSERVED! OBSESSIVELY!

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Don Bauder Sept. 29, 2015 @ 7:15 a.m.

Twister: Try "homines." It's back in the news again now. Best, Don Bauder

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Twister Sept. 29, 2015 @ 11:34 a.m.

Homines? Izzat sumpin' like home-boy? Not to impose an argumenta ad homines note to the proceedings (but hey, I couldn't resist, man).

From: https://en.wikipedia.org/wiki/Hominini Hominins

Not to be confused with Hominoidea, Hominidae, Homininae, or Hominina.

Hominins Temporal range: 5.4–0 Ma PreЄ Є O S D C P T J K Pg N

Scientific classification e Kingdom: Animalia Phylum: Chordata Class: Mammalia Order: Primates Suborder: Haplorhini Family: Hominidae Subfamily: Homininae Tribe: Hominini Gray, 1825 Type species Homo sapiens Linnaeus, 1758 Genera

Subtribe Hominina

Homo

Subtribe Panina

Pan

Subtribe Australopithecina

† Paranthropus
† Australopithecus
† Sahelanthropus
† Orrorin
† Ardipithecus
† Kenyanthropus

The Hominini is a tribe of the subfamily Homininae; it comprises three subtribes: Hominina, with its one genus Homo; Australopithecina, comprising several extinct genera (see taxobox); and Panina, with its one genus Pan, the chimpanzees (see the evolutionary tree below).[3][4] Members of the human clade, that is, the Hominini, including Homo and those species of the australopithecines that arose after the split from the chimpanzees, are called hominins; cf. Hominidae; terms "hominids" and hominins).

The subtribe Hominina is the "human" branch; that is, it contains the genus Homo exclusively. Researchers proposed the taxon Hominini on the basis that the least similar species of a trichotomy should be separated from the other two. The common chimpanzee and the bonobo of the genus Pan are the closest living evolutionary relatives to humans, sharing a common ancestor with humans about four to seven million years ago.[5] Research by Mary-Claire King in 1973 found 99% identical DNA between human beings and chimpanzees;[6] later research modified that finding to about 94% commonality, with some of the difference occurring in noncoding DNA.[7]

https://en.wikipedia.org/wiki/Homines Homines (meaning "men") may refer to :

The name Boni Homines or Bonshommes was popularly given to at least three religious institutes in the Catholic Church.
The Portuguese Boni Homines, or Secular Canons of St. John the Evangelist were a Catholic religious institute.
Homines Intelligentiae is the name assumed by a heretical sect in the Low Countries, which in 1410-11 was cited before the Inquisition at Brussels.
Argumenta ad homines consists of replying to an argument or factual claim by attacking or appealing to a characteristic or belief of the source making the argument or claim.

I hope this clears things up. Ha-ha-ha-HA-ha!

Tw

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Don Bauder Sept. 28, 2015 @ 2:43 p.m.

Twister: "Reply" may not be working, but it has actuated you, Ha-ha. Best, Don Bauder

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Don Bauder Sept. 29, 2015 @ 7:14 a.m.

Twister: "Popinjay" is formally defined as a green woodpecker. Best, Don Bauder

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Don Bauder Sept. 28, 2015 @ 2:56 p.m.

BIOTECHS GO TO THE GUILLOTINE AGAIN TODAY. Biotech stocks got chopped up again today (September 28). The iShares Nasdaq Biotechnology exchange-traded fund, with the ticker symbol IBB, a good proxy for biotech issues, suffered its biggest loss in four years, down 6.33 percent. IBB ended up the day at $290.6. It hit $398 on July 20, only a few months ago. This has been a rapid descent, following a big runup of these stocks.

San Diego biotechs continued to get thumped. ISIS declined 8.32 percent, Arena 5.36 percent, Orexigen 1.92 percent, Illumina 4.57 percent and La Jolla Pharmaceutical a whopping 14.45 percent. The last named company is making an offering of 2.9 million shares. Best, Don Bauder

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Twister Sept. 29, 2015 @ 12:08 p.m.

Greed is a built-in (genetic) trait. In Nature, it is self-limiting (it stops when actual needs are fulfilled (e.g. when one eagle chick hogs all the food while its sibling starves. For some reason, this does not appear to be the case with barn-owl chicks, demonstrating that certainty probably does not exist in Nature).

Deception also is built-in. Consider the killdeer mother who feigns injury to draw predators away from her nest. (I fooled you, I fooled you--I got all pig-iron . . .) But this is likewise self-limiting; when the danger is past, the deception has served its purpose and does not extend to, for example, other killdeers.

There is growing evidence that altruism and a sense of fairness (dare I say LOVE?) also is hard-wired, and may be MORE pronounced in other species, implying, perhaps, that since indifference to each other has been increasing in the dominant culture, that our psychotic index may be rising (I have noticed, however, that “Millennials” contain a subset that is turning around this trend—whether or not it “catches on” and becomes dominant, time will tell [if Homo sap. Survives long enough]). The more cooperative, the more social the being, the more susceptible it seems to be to the pitch and roll of the cradle-rocking predators and parasites created by culture.

Culture, since its inception, has grown increasingly indifferent to individuals (actual data no doubt fluctuate, but the trend apparently continues). Individual-to-individual indifference is more difficult to “chart.” We recognize the most profound violations of social mores as asocial, but the more subtle manipulations and exploitive behaviors are more difficult for the “targets,” “marks,” or “lambs-to-the-slaughter” to see coming. Sanbox spats turn into wars. Success breeds collapse. The euphoria of booms transmogrifies into horrifying busts perhaps more severe in their depressions as the “high” that produced them.

No wonder “pot” is so popular among the hoi polloi. The predators doth feed on them and the harder stuff—they want to be “up” all the time. A costly strategy, in practical terms, for them both.

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Don Bauder Sept. 29, 2015 @ 1:23 p.m.

Twister: You seem to be saying that we humans got the worst of the greed genes. It's true that most animals will stop eating when they get full. But a certain breed of humans, in most abundance on Wall Street and in corporate boardrooms, are never satisfied with their riches. They want more.

This is at the root of the obscene pay for chief executive officers. (Reminder: about 50 to 60 years ago, CEOs raked in about 70 times what the average employee made. Now it's around 300 times.) CEOs should be happy with $20 million a year, but if they see another CEO in the same industry making $21 million a year, they want more, more, more. Best, Don Bauder

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Twister Sept. 29, 2015 @ 4:19 p.m.

You got dat right!

However, I suspect that the greed genes are no more pronounced in Homo sap. than any of the other species. The difference is culture. As Pogo once said, "We has met the enemy and he is us."

The other point I was trying to make is that all the other animals have limits to their greed and manipulative instincts; they only use them when they need them, whereas the H. saps know no limits. They will have to peak out, which will bring down the whole house of cards.

Affluenza is a fatal disease. Trouble is, it's so much fun while it lasts. Acquisition hits the pleasure centers like heroin. The spiral gets tighter and tighter until . . . SPLAT!

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Don Bauder Sept. 30, 2015 @ 2:48 p.m.

Twister: You are so right. Animals only get extraordinarily greedy when they must do so to survive. Not so with humans. Affluenza is fatal for society in general, but not necessarily for the greediest of the affluent, who seem to survive nicely, always avoiding prison, where so many of them belong. Best, Don Bauder

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Twister Sept. 30, 2015 @ 4:50 p.m.

Just dump 'em all on a desert island, and we won't care atoll.

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Don Bauder Oct. 2, 2015 @ 2 p.m.

Twister: The meisterpunster... Best, Don Bauder

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Twister Oct. 5, 2015 @ 4:43 p.m.

The correct form of expression is “the other animals, but I, too, often catch myself making this error.

Tw

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Don Bauder Sept. 29, 2015 @ 1:30 p.m.

AN EASIER DAY FOR BIOECHS: Biotech stocks today (September 29) didn't trudge through a bloodbath. The Nasdaq biotech exchange-traded fund with the ticker symbol IBB, a proxy for biotechs, only dipped 0.39 percent to $289.49. The Dow Jones Industrial Average was up 0.30 percent but the Nasdaq was down 0.59 percent.

Among San Diego biotechs, ISIS plunged 5.65 percent, La Jolla Pharmaceutical went down 1.15 percent, and Illumina rose 1.44 percent. Best, Don Bauder

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Don Bauder Sept. 30, 2015 @ 2:53 p.m.

AT LAST: OVERALL MARKET AND BIOTECHS SURGE. The Dow Jones Industrial Average zoomed 1.47 percent today (September 30), while the Nasdaq leapt 2.28 percent. Biotech stocks, which have been brutally belted for several months, rose 4.78 percent, as reflected in the fund with the ticker symbol IBB.

San Diego biotechs rose. Illumina was up 3.53 percent, La Jolla Pharmaceutical up 7.96 percent, and ISIS up 6.26 percent.

The big question is whether the overall market and the biotechs are looking for a bottom, or this was a dead cat bounce. Best, Don Bauder

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Don Bauder Oct. 2, 2015 @ 2:12 p.m.

MARKET REVERSES COURSE AND SOARS...BIOTECHS IN PARTICULAR. BUT EGREGIOUS FINANCIAL ENGINEERING MAY GET THE CREDIT. The stock market initially dropped on weak employment news today (October 2), then turned around and soared. The Dow Jones Industrial Average rose 1.23 percent and Nasdaq 1.75 percent.

Biotechs rebounded stoutly. IBB, the proxy for the industry, rose 3.47 percent. The two local weight loss companies rebounded well: Orex was up 6.08 percent and Arena up 9.39 percent. Illumina rose 4.07 percent and ISIS 5.92 percent.

But there is very disturbing news. Corporate profits may be looking better because of financial engineering -- not because of honest economic performance. MarketWatch reports that in the third quarter, there were 205,759 job cuts -- the most since the third quarter of 2009. In September alone, stock buybacks hit $243.4 billion, more than seven times the amount of September, 2014. It appears that earnings aren't REALLY recovering. Corporations are diddling with their earnings per share. Best, Don Bauder

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Don Bauder Oct. 5, 2015 @ 2:01 p.m.

MARKET SOARS, BUT NOT BIOTECHS. The Dow Jones Industrial Average zoomed 304 or 1.84 percent today (October 5), but biotech stocks didn't follow along. IBB, the fund that is a good proxy for biotechs, lost 0.74 percent.

Among San Diego biotechs, these went down: Orex minus 0.92%, ISIS 4.25%, La Jolla Pharmaceutical 4.64%, and Illumina 0.27%. Arena went up 8.95%. Best, Don Bauder

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Don Bauder Oct. 6, 2015 @ 3:06 p.m.

NOT A GOOD DAY FOR BIOTECHS. AGAIN. The stock market did little today (October 6). The Dow Jones Industrial Average crept up 0.08 percent. Nasdaq dropped 0.69 percent.

IBB, the ticker symbol for a good proxy for biotechs, was down 3.6 percent. Arena dropped 4.19 percent and ISIS dipped 3.16 percent. Orex bucked the trend by rising 1.85 percent. Best, Don Bauder

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