The Day In Review: Biogen Idec, Inc. (Massachusetts) (BIIB) Buys Cancer Company Conforma Therapeutics Corporation
5/4/2006 2:29:39 PM
May 3, 2006 – Biogen Idec paid $150 million upfront to buy Conforma Therapeutics, which is focused on cancer therapies; MGI Pharma and SuperGen received FDA approval for Dacogen, an injected drug for mylodysplastic syndrome;Hemispherix said that Ampligen was surprisingly effective against chronic fatigue syndrome; Bayer and Onyx announced enrolment has been completed in two Phase III trials of cancer treatment Nexavar; GTx Inc has finished enrolling patients in a Phase III trial of Acapodene, its prostate cancer drug; Human Genome completed a sale-leaseback transaction that will raise $220 million in new cash; PDL BioPharma dropped sharply after releasing its Q1 financial numbers; and NPS Pharma took a hit on news the FDA will require another trial for its osteoporoses drug, Preos. The Centient Biotech 200™ moved up 5 points to 3718.78, a rise of .14%. More details...