Monday, April 27, 2009
Shares of makers of flu treatments, tests and vaccines are rising Monday as a swine flu outbreak makes its way across the globe, sparking fears of a pandemic.
The bug is a suspect in more than 100 deaths and 1,400 cases in Mexico, with confirmed cases in the U.S., Canada, and Spain. Though Wall Street remains concerned that swine flu could put a damper on any global economic recovery, several companies could benefit.
Gainers include Gilead Sciences, which gets royalties for drugmaker Roche's Tamiflu treatment. The stock rose almost 4%.
Shares of GlaxoSmithKline, which makes the anti-flu drug Relenza, are up almost 8%.
Quidel, which makes rapid flu tests, rose almost 5%.