Notable Drug Stock Movers (CO, AVNR, BSX)

China Cord Blood Corp (NYSE:CO) plunged 26.50% to $4.16 after it made its fresh 52-week low of $3.84. The company announced that it has priced a follow on underwritten public offering of 8,050,000 ordinary shares at a price of $4.50 per share, including 1,050,000 shares being sold by certain selling shareholders. The offering is expected to close on November 10, 2010. The Company intends to use the net proceeds it will receive from the Offering to establish a new storage facility in Zhejiang province, to develop the Zhejiang operation and for general working capital purposes. The stock went down more than 16% year-to-date. AVANIR Pharmaceuticals (NASDAQ:AVNR) added 0.63% to $4.78 on about 2.35 million shares. This week, U.S. regulators approved its treatment for a neurological disorder last week on Friday, making it attractive to larger firms looking for a strong product that has cleared the regulatory hurdle. The U.S. Food and Drug Administration approval makes the drug Nuedexta the first approved treatment for the little known, but not that rare, condition called pseudobulbar affect in which patients cannot control outbursts of crying or laughter. Boston Scientific Corporation (NYSE:BSX) jumped 3.62% to $6.72. Yesterday, analyst at Collins Stewart started coverage on the stock with a Buy rating and set a $7.50 price target. Over the past six months of trading sessions, the stock went down more than 1% and is down more than 25% year-to-date. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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