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Drug Makers Head Into the Weekend on the Uptick (TEVA, VRX, IGXT)

Glad to see that Teva Pharmaceutical Industries Ltd (ADR) (NASDAQ:TEVA), Valeant Pharmaceuticals Int (NYSE:VRX), and IntelGenx Technologies Corp. (OTC:IGXT) are all on the upswing today; I like industry and sector rallies amidst a week of ‘nerves’ and ‘jitters’ and ‘anxiety’… it restores ones hope and confidence in the markets.Have a look at Teva Pharmaceutical Industries Ltd (ADR) (NASDAQ:TEVA) which was trading at $35.26 on Sept 26 and is currently trading in the $41.28 range; a gain of 17% in six weeks for some very happy shareholders. On Tue Nov 1 the stock was trading at $39.08; that’s a gain of 5.6% in the last two days… a Strong bounce back. An over-the-counter partnership launch with Proctor and Gamble was the force behind the run-up.And more good news at Valeant Pharmaceuticals Int (NYSE:VRX) which announced a buy back of $1.5 billion shares, which will go a long way in reversing any normal dilution and increase share value; think of it as a dividend of sorts…And the Company just posted a “Huge” Y-O-Y turnaround for shareholders with Q3 EPS of +$0.13 vs. -$1.27 in the year ago period. “Huge” turnaround. VRX was at $33.85 on Oct 4 and is currently trading in the $42.90 range; a gain of 26.7% in a month. Wow. Take a look at IntelGenx Technologies Corp. (OTC:IGXT) in the far more affordable range of $0.65 today…This has been an interesting stock to watch… Here’s why…The Company’s CPI-300 drug, to treat depression, was rejected by the FDA in Feb of ’10 because of adverse food effects, but the Company has countered with a simple label restriction, and in ten days, Nov 13, the FDA will give CPI-100 thumbs up or thumbs down. We all know what happens when the FDA says yes or no…I haven’t, don’t, and do not intend on holding any of the companies mentioned in this article.

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