The Day In Review: Ligand Pharmaceuticals Inc. Sells Remaining Drugs

September 8, 2006 -- Ligand sold off the second half of its drug business, receiving $205 million for its four oncology drugs from Eisai; Bioenvision said a hepatitis C drug reduced the viral load by about 90% for genotype 4a; Sanofi-Aventis received a new indication for Plavix in Europe; ImaRx set the terms for its IPO as did Light Sciences Oncology; Abraxis needs to conduct a trial to win approval of Abraxane for earlier use against breast cancer; Advanced Cell Technology secured $13 million in new financing; Trimeris and Roche extended their partnership for another two years; Invitrogen bought the fluo 3 and fluo 4 product lines from TEF Labs; and Taro will challenge the Novartis patent for Trileptal tablets, a seizure drug. The Centient Biotech 200™ gained 13 points to end at 3707.72, an increase of .35%. More details...