Swine flu boon for Aussie biotech business
The economic impacts of swine flu have been positive for at least one business, Australian anti-influenza drug developer Biota. Shares in the ASX-listed company have jumped almost 80 percent in value, to $1.55 a share, since the outbreak was publicised.
Biota’s drug Relenza is one of two anti-flu drugs being stocked by governments around the world to mitigate a swine flu pandemic. Relenza is licensed to international pharmaceutical company GlaxoSmithKline.
Swine flu, which has already killed more than 150 people in Mexico, has been found in the USA, Canada and New Zealand, with recent news that travelling Australians may also have the disease.