The Day In Review: Gilead Sciences (Foster City, CA) Pays $365 Million For Corus Pharma, Inc.

July 20, 2006 -- Gilead will pay $365 million for Corus Pharma, a drug-device maker with a potential product for cystic fibrosis; Amgen reported higher financial number and beat the street estimates; MGI Pharma fell after coming up short in its Q2 report; Bayer and Onyx won Fast Track designation for Nexavar as a melanoma treatment; Human Genome began a Phase II trial of its multiple myeloma drug; Biomira published data showing Stimuvax effective against PSA levels; Endo Pharma and Vernalis filed for approval of Frova as a therapy for menstrual migraine; CuraGen opted out of paying further costs for the diabetes drug it is developing with Bayer; GlaxoSmithKline won a $16.8 million federal flu contract; and Nektar said Pfizer will delay slightly its launch of Exubera, their inhaled insulin product. The Centient Biotech 200™ ended with a 39 point loss at 3526.64, a drop of 1.09%. More details...