Performance

Galleon sails ahead

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Despite Merck's meltdown, in which net income for the pharmaceutical giant fell a drastic 29% for the third quarter, September was the best month many healthcare-focused hedge funds had in some time. The Galleon Healthcare Offshore Ltd. fund, run by Sam Navarro, is up an estimated 1.54% for September, bringing its year-to-date figures to an estimated 1.65%. Pequot's $520 million healthcare fund is said to have notched a big gain of 4.10% in September, bringing its year-to-date to an estimated 3.55%. The Merlin Biomed International, Ltd., pulled down a hefty 5.51% gain for September, also bringing its year-to-date