Sunday, April 26, 2009

JNJ & Simponi FDA approval/New Strain of Swine Flu/CB & L

In my last post where I linked a prior one which contained a statement that I had taken my position in CB & L Properties up to 150 shares and would not reinvest the dividends,  my decision  to take cash was later undermined by the company.  Like many REITs, CB & L placed a cap on the amount of its cash dividend, paying the balance in stock, so I received around 10 shares and some cash, in whatever percentages the company announced.   As I said, this is common now, and I do not remember a single REIT ever doing it before the current crisis.   

The new strain of swine flu appears to be spreading, with two confirmed cases in Kansas.  The NYT reported that 8 students likely contracted this new flu strain. Some students had just returned from spring break to Mexico.  
The World Health Organization declared the new strain of swine flu to be a public health emergency of international concern. WHO | Swine influenza - Statement by WHO Director-General, Dr Margaret ChanWHO | Swine influenza
The Washington Post reported that Mexico did not inform the U.S. of the outbreak until one week after that country started to take protective measures.  As of Friday, Mexico had linked 81 probable deaths due to the virus.
It is really too early to tell how serious this new strain will be but it may have the potential of a pandemic.   A pandemic could be a black swain type of event.  I remember an outbreak in 1976 where the entire country underwent a vaccination.  Swine influenza - Wikipedia, the free encyclopedia 
I am always sensitive about this kind of information since I am familiar with the names of my lineal ancestors who died in the worst pandemic in modern times, the so-called Spanish Flu epidemic in 1918-1919. 1918 flu pandemic - Wikipedia, the free encyclopedia

The FDA approved Friday an injectable medication, Simponi, that treats three forms of arthritis caused by immune system disorders-rheumatoid arthritis, ankylosing spondylitis, and psoriatic arthritis.    Johnson & Johnson will market this new drug in the U.S.  Simponi (golimumab)   JNJ is on my list of possible adds.  

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