Other Notable News:
Novartis (NVS) had a good month (up 4.75%); in spite of some negative news regarding its blood pressure drug Tekturna. The company announced that they were ending a recently concluded study of the drug for high-risk patients with diabetes and renal impairment. The study was terminated early due to patient safety concerns. There were thoughts that the drug could be a future blockbuster for Novartis, but now it's more likely that the drug could be sold or taken off the market. Tekturna accounts for roughly 1% of sales for NVS, and has not turned a profit as of yet. JP Morgan analysts have noted that the news might not be the end of the world, and could result in "substantial cuts to the investment behind Tekturna, with upside to 2012 and 2013 margins." The stock remains a conviction pick, as its strong pipeline and diversified business line (which includes generic business Sandoz and eye care company Alcon) should help support the upcoming patent expiration of Diovan in 2012.
Portfolio Returns (Dec 1st to Dec 31st):
Proshares Ultrashort FTSE (FXP): +8.58%
Exxon Mobil (XOM): +6.23%
McGraw Hill (MHP): +5.07%
Novartis (NVS): +4.75%
Proctor & Gamble (PG): +4.1%
Chubb (CB): +3.93%
PepsiCo (PEP): +3.53%
Microsoft (MSFT): +2.69%
Honeywell (HON): +0.33%
Deere (DE): -1.23%
Target (TGT): -1.78%
Norfolk Southern (NSC): -2.57%
Intel (INTC): -2.69%
Mattel (MAT): -3.38%
If you have any questions, comments or suggestions, feel free to message me on Twitter at @bostoncfa
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