One of the benefits for investors who focus in specific sectors is that new opportunities can come from research. While researching Theravance (THRX) and Valeant (VRX) over the last few quarters, Arena Pharmaceuticals (ARNA) came up recently. A number of readers bought Arena when shares traded below $6. This leaves investors noticing shares at the current price paying two-fold or more. Theravance and its partner GlaxoSmithKline PLC (GSK) reported positive results from four Phase III tests for the treatment of chronic obstructive pulmonary disease ("COPD"). Theravance and GSK are testing LAMA/LABA, which is a mix of two molecules, in four 24-week long studies. LAMA/LABA are two molecules that dilate the bronchial passages.
