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Early Detection Trade

It's a trade we told you about earlier this year. The rising cost of health care has sparked new interest in the early detection of diseases. We may have gotten a few such breakthrough Thursday.

CNBC Pharmaceutical Reporter Mike Huckman joins the panel for this conversation. Following are excerpts from what was said.

Virtual Colonoscopy

Huckman explains a study in the New England Journal of Medicine shows a “virtual” colonoscopy is just an effective at detecting cancerous polyps as the traditional colonoscopy. However he reminds the panel this is just one study. He adds that Vital Images (VTAL) popped 10% Thursday because they make the software.

Flu Vaccine

Huckman says another study published in the New England Journal of Medicine says people over 65 who get a flu shot cut the risk of hospitalization by 27% and risk of death by 50%.

Pete Najarian says it’s probably not a reason to buy a drug companies because the flu vaccine is a relatively small seller for Big Pharma.

Stents

Huckman says a third study suggests drug coated stents are better than bare metal ones. Boston Scientific (BSX), Johnson & Johnson (JNJ), Medtronic (MDT) and Abbott (ABT) all make drug coated stents.

The Trade

Pete Najarian thinks the trade is Ventana (VMSI) as a medical device maker. He also likes Cepheid (CPHD) and Affymetrix (AFFX) for diagnostics.

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Trader disclosure: On Oct 4, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (ATI); Najarian Owns (ENER), (RIMM): Finerman Owns (COV), (GS),: Finerman's Firm And Finerman Own (HD): Finerman's Firm Owns (JNJ), (PSS), (KSS), (BEAS), (BWS), (COP), (NYX), (NMX), (VMSI): Finerman's Firm Owns S&P 500 Puts: Finerman's Firm Owns Russell 2000 Puts; Seygem Asset Management Owns (AA), (VIP), (GLD): GE Is The Parent Company Of CNBC