The Day In Review: Biotech Soars Higher

April 21, 2005 -- Stocks moved higher across a broad front Thursday, and biotech moved with them. The Centient Biotech 200 was almost 53 points higher at 3207.86, a 1.68% climb. The NYSE Composite rose 1.61%, and Nasdaq gained a spectacular 2.54%. In buyout news, Trankaryotic agreed to a $1.6 billion offer from Shire, Pozen said its migraine drug met all primary endpoints (sending the stock 67% higher), the metastatic melanoma regimen from Medarex proved to be effective, Protein Design Labs got Fast Track status for a type 1 hepatorenal syndrome drug, and Guilford has a new test plan for its sedative. More details...