From todays Financial Post, comment by Patricia Nesbitt, senior vice-president in charge of Canadian equities at GWLIM (the investment management arm of Great-West Life Assurance Co.), point to the positive fundamentals underpinning the Canadian equity market and she hase selected ANP.to / ANPI Nasdaq from the biotchnology sector.
- Angiotech Pharmaceuticals Inc. (ANP/TSE) $67 ($138-$10.30). This Vancouver-based biotech company develops new treatments for diseases involving abnormal cell development and chronic inflammation. The firm's lead product is a paclitaxel-coated cardiovascular stent, used to prevent scarring and reblockage of arteries following angioplasty procedures.
One of Angiotech's partners, Cook Inc., has started clinical trials with these stents. Another partner, Boston Scientific Corp., is undertaking similar testing. Boston Scientific and Cook are two of the world's largest stent manufacturers and are "strong partners for Angiotech."
The company is also in clinical studies of topical paclitaxel gel formulation for the treatment of psoriasis. Similar studies are underway in the treatment of rheumatoid arthritis and multiple sclerosis, say Nesbitt.