(FOOL GLOBAL WIRE) LEXINGTON, Ky. (June 19): The Nasdaq was a little less hostile today than yesterday, and within the IFG Model Portfolio, the technology stocks regained some of yesterday's slide, offsetting a slip today in two of the medical stocks.
One of those medical stocks, Medtronic <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:MDT)") else Response.Write("(NYSE:MDT)") end if %> announced today that the Food and Drug Administration will allow the company to begin marketing its Intrathecal Baclofen Therapy, a new treatment for cerebral spasticity.
According to the company's press release, "cerebral spasticity is a chronic, often severe, muscle stiffness that affects approximately 75 percent of the 500,000 Americans with cerebral palsy and many of the 100,000 people who suffer brain injuries each year. The new therapy may be useful in approximately two-thirds of patients with cerebral spasticity associated with a marked increase in muscle stiffness interfering with function and/or care."
"Intrathecal Baclofen Therapy adds a new safe and effective therapeutic tool for many patients with spasticity who cannot do the things most of us take for granted -- feeding or dressing ourselves, walking, writing and sometimes, even talking," said president of Medtronic Neurological Business, John A. Meslow. "Medtronic is proud to introduce the first new treatment in 15 years specifically indicated for patients with cerebral spasticity."
On no news, United HealthCare <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:UNH)") else Response.Write("(NYSE:UNH)") end if %> joined Medtronic's woes. Winners today included Oracle <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:ORCL)") else Response.Write("(NASDAQ:ORCL)") end if %>, Tellabs <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:TLAB)") else Response.Write("(NASDAQ:TLAB)") end if %>, and Computer Associates <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:CA)") else Response.Write("(NYSE:CA)") end if %>.
Transmitted: 6/19/96 | ||||||||
INVESTING FOR GROWTH MODEL (6/19/96) | ||||||||
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