The S&P has rallied nearly 50% from its lows and is up over 10% year to date. For those that sat out the rally afraid to get in, the market is starting to look (at the very least) fairly valued. It’s hard to say where things will go from here. But, a closer look at the leaders of the recent rally sheds some light on some stocks which just might have been over looked. Not having benefited from the powerful rally we’re just experienced, it would stand to reason they will have less to correct should the market turn and offer more of an opportunity for appreciation as investors continue to look for uninflated assets.

The above chart graphs the Dow Jones Industrial Average against a proxy

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On Jul 16, Gilead Sciences Inc. (GILD) entered into a license and collaboration agreement with Tibotec Pharmaceuticals, a unit of Johnson & Johnson (JNJ), for the development of a once-daily antiretroviral HIV pill.

The companies are looking to develop a combination pill that will combine Gilead's Truvada with Tibotec's TMC-278, a non-nucleoside reverse transcriptase inhibitor (NNRTI), for use in treatment-naïve HIV patients. If successfully developed and approved, the combination pill would be the second complete antiretroviral treatment for HIV to be available in a single pill. The use of single pills makes treatment simpler for patients.

Gilead's Atripla is the first once-daily pill to be available in the HIV market. Atripla is a combination of Truvada, itself a fixed-dose combination of two nucleoside reverse transcriptase inhibitors (NRTI): Viread and Emtriva, and Sustiva, an NNRTI manufactured by Bristol-Myers Squibb (BMY).

In addition to the treatment-naïve patient population, we believe the

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Below is a summary of updates to the BioMedReports.com database of over 200 entries included in the FDA and Clinical Trial Calendars.

The FDA Calendar includes companies with pending new drug, biological agent, or medical device new product decisions at the FDA sorted by their PDUFA decision deadline dates while the Clinical Trial Calendar encompasses pending clinical trial results (with a focus on late-stage, Phase 3 trials), pending new submissions to the FDA (e.g. NDA, BLA, 510k, PMA, sNDA, sBLA filings), and pending re-submissions to the FDA for complete response rulings by the agency which require more information before an approval can be granted.

Theravance [THRX: 14.54, 0.00 (0.00%)]: On 4/24/09, the FDA accepted as complete for review Theravance’s response to the February 2009 Complete Response Letter (CRL), which outlined requirements for approval of telavancin for the treatment of complicated skin and skin structure infections (cSSSI). Telavancin is

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The table presented above compares and contrasts the two healthcare ETFs, based on Yahoo! Finance statistics as of the market close on July, 2, 2008.

Despite concerns over the health of the domestic economy along with surging food and energy prices, the healthcare sector has failed to garner investor interest as a safe haven. Most healthcare exchange-traded funds (ETFs) and drug stocks continue to languish near multi-year lows, despite an aging Baby Boomer population and ever-increasing proportion of the gross domestic product (GDP) accounted for by healthcare spending. Last year, total health expenses grew at twice the inflation rate (6.9%), accounting for 16% of the GDP at $2.3 trillion. This growth rate is expected to continue over the next decade to a level of $4.2 trillion in 2016, accounting for 20% of the GDP, based on statistics provided by the National Coalition for …