The Day In Review: Biotech Shows Gain For 2005

July 14, 2005 -- For the first time in 2005, biotech beat the closing print of 2004. The Centient Biotech 200 rose impressively, moving up almost 59 points to 3591.92, a 1.67% increase. The S&P 500 rose .26% and Nasdaq was up .41%. Genentech and Amgen both continued their relentless moves higher, Genzyme gained 6% after releasing Q2 earnings, OSI Pharma won Canadian approval for Tarceva, Encysive is all-but-complete on its FDA filing for Thelin, the FDA has asked Purdue Pharma to withdraw Palldone because of a potentially fatal side-effect, Zyflo from Critical Therapeutics failed a Phase III test, Merck KGaA has licensed a cancer drug from Tailho Pharma, and Crucell will develop a humanized monoclonal antibody for rabies. More details...