Macro Market Commentary - "BioMarin & Dynavax - Getting into Lupus " - pgs. 1-16
Macro Market Commentary - Recovery interuptuss - pgs. 17-20
BSR Coverage Update - pgs. 21-30
BSR Model Portfolio Update - pgs. 31-32

In this issue of Biotech Monthly, we use recent deals signed by coverage universe companies BioMarin (BMRN) and Dynavax (DVAX) to explore the auto-immune disease lupus.

In this month's Macro Market Commentary column, BSR's CEO David Miller cautions that independent research is even more important in today's world than ever. He looks at the current market situation, and discusses how two major deals in the pharma and biopharma space aren't likely to be positive for biotech.

We also update our coverage of the following companies in our coverage universe:

Dendreon (DNDN)
Indevus (IDEV)
Medarex (MEDX)
Osmetech (London:OMH)
Oncolytics Biotech (ONCY)
Repros Therapeutics (RPRX)
Resverlogix (Toronto:RVX)
YM Biosciences (YMI)
ZymoGenetics (ZGEN)