The BioScience Index
The PwC BioScience Index (the "BioScience Index")
highlights the performance of UK bioscience companies compared to the FTSE All-Share
Index. Over the past two years, the FTSE All-Share Index continues to outperform the BioScience Index by 54%.The BioScience Share League
The PwC BioScience Share League (the "Share League") analyses the
share price performance of 33 UK bioscience companies relative to the share price at 31
August 1996 (or the share price at the end of the month in which the company’s shares
were listed).
We have compiled the BioScience Index and
Share League from share price and market capitalisation data published in the
Financial Times and amended by the appropriate Adjustment Factors obtained from Financial
Times Information. July and August data has been taken from the Financial Times on 31 July
and 1 September 1998 respectively.
Key news in July and August 1998
The BioScience Index has fallen by 17% during July and August 1998 to
approximately 74% of its value at 31 August 1996. Only 7 of the 33 companies within the
Share League have a higher index than at 31 August 1996.
The whole sector continues to be adversely affected along
with the the US sector. Investors remain bearish despite good news from a number of
companies, for example, Phytopharm and Shire. There have been a number of high-level
management appointments announced recently and it will be interesting to see if this has
any impact on the remainder of 1998. Many companies could be considered prime acquisition
targets at the moment; lack of critical mass and potential cash shortages may force this
issue of consolidation.
|
|
Company |
Index |
1 |
Shield Diagnostics |
387.90 |
2 |
KS Biomedix |
315.93 |
3 |
Biotrace Intnl |
284.21 |
4 |
Powderject |
248.57 |
5 |
Shire Pharmaceuticals |
220.98 |
6 |
Alizyme |
103.88 |
7 |
Quadrant Healthcare |
100.42 |
8 |
Polymasc Pharmaceuticals |
96.20 |
9 |
Cantab Pharmaceuticals |
91.87 |
10 |
SkyePharma |
83.43 |
11 |
Peptide Therapeutics |
66.01 |
12 |
Proteus Intnl |
64.81 |
13 |
Oxford GlycoSciences |
59.89 |
14 |
Chiroscience |
59.34 |
15 |
Celltech |
53.25 |
16 |
Tepnel Life Sciences |
52.22 |
17 |
Oxford Molecular |
51.69 |
18 |
Vanguard Medica |
47.26 |
19 |
Phytopharm |
45.41 |
20 |
Enviromed |
43.33 |
21 |
Scotia |
41.05 |
22 |
Cambridge Antibody |
39.34 |
23 |
Oxford Biomedica |
38.96 |
24 |
PPL Therapeutics |
36.23 |
25 |
Core Group |
31.3 |
26 |
Xenova |
28.63 |
27 |
Biocompatibles Intnl |
24.00 |
28 |
ML Labs |
23.10 |
29 |
Celsis Intnl |
22.95 |
30 |
Cortecs |
20.07 |
31 |
Stanford Rook |
16.22 |
32 |
British Biotech |
15.75 |
33 |
Therapeutic Antibodies |
13.22 |
|
Gainers
Shire's first half results were ahead of market
expectation. The share price rallied after the explosion at Shire's contract manufacturer,
Arenol, which occured earlier this month. Shire and Janssen revealed that a drug being
jointly developed could slow the onset of Alzheimer's.Alizyme entered into an agreement with SmithKline Beecham
("SB") to develop SB's renzapride for use in gastrointestinal disorders.
Decliners
Peptide Therapeutics' share price was
affected by Phase I proof of principle trial in which its intranasal flu vaccine failed to
show immunogenecity.
Cortecs' boardroom dispute continues to undermine
the stock.
Vanguard Medica's largest backers, Guardian Royal
Exchange and its subsidiaries, have disposed of almost half of their holdings since May.
Chiroscience's share price fell despite announcing
an agreement to sell 30% of its chiral products and services subsidiary Chiritech
Technology Ltd to conglomerate Ascot Plc.
Oxford Molecular Group's market capitalisation fell
below £100m in response to disappointing results. |
