The pharmaceutical industry has witnessed major changes in 2009. Performance has been affected by factors like sluggish prescription trends, intensifying generic competition and limited phase III catalysts. The next five years are expected to reflect a significant imbalance between new product introductions and patent losses. According to IMS Health (RX), this is the main reason why global pharmaceutical market growth will be restricted to the mid-single digits through 2013. Over the next five years, products that currently generate about $137 billion in sales are expected to face generic competition, including Lipitor, Plavix and Seretide. At the same time, new products are not expected to generate the same level of sales as the products losing patent protection have. With most of the big pharma companies already facing patent challenges for their blockbuster products or likely to face them going forward, the companies have been looking toward mergers ...

[Editor’s Note: When it comes to global investing, longtime market guru Martin Hutchinson is one of the very best – because he knows the markets firsthand. After years of advising government finance ministers, crafting deals with global investment banks, and analyzing the world’s financial markets, Hutchinson has used his creative insights to create a trading service for savvy investors.

The Permanent Wealth Investorassembles high-yeilding dividend stocks, profit plays on gold and specially designated “Alpha Bull Dog” stocks into high-income/high-return portfolios for subscribers. Hutchinson’s strategy is tailor-made for periods of market uncertainty, during which investors all too often go completely to cash – only to miss some of the biggest market returns in history when market sentiment turns positive. But it can work in virtually every market environment.

To find out about this strategy – or Hutchinson’s new service, …

[Editor's Note: When it comes to global investing, longtime market guru Martin Hutchinson is one of the very best - because he knows the markets firsthand. After years of advising government finance ministers, crafting deals with global investment banks, and analyzing the world's financial markets, Hutchinson has used his creative insights to create a trading service for savvy investors.

The Permanent Wealth Investorassembles high-yeilding dividend stocks, profit plays on gold and specially designated “Alpha Bull Dog” stocks into high-income/high-return portfolios for subscribers. Hutchinson’s strategy is tailor-made for periods of market uncertainty, during which investors all too often go completely to cash – only to miss some of the biggest market returns in history when market sentiment turns positive. But it can work in virtually every market environment.

To find out about this strategy – or Hutchinson’s new service, …

As a candidate, Barack Obama positioned himself as the Anti-Bush. But as president, his foreign policy actions and outcomes so far could be called Bush-Like….

As a candidate, Barack Obama positioned himself as the Anti-Bush. But as president, his foreign policy actions and outcomes so far could be called Bush-Like. Thatrsquo;s the view put forth in an interesting analysis from Stratfor Global Intelligence, a geopolitical think tank based in Austin, Texas. Stratfor president George Friedman spins the globe and points out where the campaign rhetoric left off and the realities of being president set in. Wersquo;re still deeply entrenched in Iraq. We are still telling the Iranians to negotiate on nuclear development, or else. Our tense relationship with the Russians over regional dominance remains intact. The French and Germans are still holding us at armrsquo;s length despite Obamarsquo;s overtures. We are maintaining the status quo with China by focusing on our common economic interests and avoiding politics. Sure, itrsquo;s only been seven months since Obama took office, but contrary to the view of Obama purists, Friedman says the promises ...

Yesterday, Anadys Pharmaceuticals Inc. (ANDS) reported a second-quarter net loss of $6.5 million or $0.21 per share, which was better than the Zacks Consensus Estimate of $0.27. The company had reported a net loss of $7.1 million or $0.25 a share in the year-ago quarter. Anadys recorded no revenue for the quarter.

The slightly lower net loss is attributable to the 4% decrease in operating expenses in the reported quarter. Research and development expenses decreased 15.5% mainly due to reduction in expenses associated with the development of ANA773.

As a reminder, Anadys had announced a restructuring plan in June to focus resources on developing its more promising Hepatitis C candidate, ANA598. All development programs for its other candidate, ANA773, have been suspended. General and administrative expenses, however, increased 28.2% due to the severance costs associated with the strategic restructuring, whereby the company laid off 40% of its employees.

...

Buy tax-free bonds - now.  If you’re a mutual fund investor, buy them through Vanguard (the average fund company charges expenses six times higher than Vanguard’s).

If you are a closed-end investor, try a tax-free fund like Nuveen Insured Municipal Opportunity Fund (NYSE:NIO), trading at a 10% discount to its net asset value and yielding over 6% paid monthly.

Or, to avoid annual expenses and have the certainty of a final value on a particular date, buy individual tax-free bonds.

But whatever you do, buy them now. Let me count the reasons why you should…

Three Reasons Why Municipal Bonds Make A Good Investment Now

Ten-year municipal bonds, while down from the historic premium they reached a few months ago, are yielding as much as 10-year Treasuries. But while Treasuries are taxable, munis are not. Most municipal bonds are safe. Yes, a few areas - particularly in California and Alabama - are troubled. But the ...

Stephen Blank has an interesting new article on Forbes in which he assesses the economic damage being caused by Russia's inability to effectively reduce legal nihilism and corruption, both of which are dragging on the country's attempt to recover from the crisis.  Sticking out like a sore thumb is of course the second trial of Mikhail Khdorkovsky, which will be in full session during the first state visit of President Barack Obama.  Blank describes the Khodorkovsky trial as a "palpable judicial farce," and if President Dmitry Medvedev is unable to take action to solve the situation it will "confirm the widespread belief that he is merely a tool of his predecessor, a placeholder until Putin resumes the presidency."

When he was a candidate to lead Russia, Dmitry Medvedev denounced the country's "legal nihilism." Now, as president, he has often spoken

...

Tax-Free Bonds: Why Now is the Time to Buy Munis

by Alexander Green, Advisory Panelist

I’ve said it before and I’ll say it again. Buy tax-free bonds - now.

Buy them through Vanguard if you are a mutual fund investor. (The average fund company charges expenses six times higher than Vanguard’s.) If you are a closed-end investor, try a tax-free fund like Nuveen Insured Municipal Opportunity Fund (NYSE: NIO) trading at a 10% discount to its net asset value and yielding over 6% paid monthly. Or, to avoid annual expenses and have the certainty of a final value on a particular date, buy individual tax-free bonds.

But, whatever you do, buy them - now.

Tax-Free Bonds: Why It’s Time To Buy Them

So, why is now the time to buy tax-free bonds? Let me count the ways:

Ten-year municipal bonds, while down from the historic premium they reached ...