The Day In Review: Biotech Tacks On Another 10 Points

May 27, 2005 -- In very light (and non-volatile) pre-holiday trading, and with little news in the background, stocks overcame early losses to close higher. The Centient Biotech 200 gained almost 10 points to close at 3381.05, a rise of .29%. Side-effect problems hit blockbuster drugs Viagra from Pfizer and Cialis from Lilly, Biovail won approval for a chewable form of the sedative Ambien, Celgene received the go-ahead for a once-a-day drug for ADHD, Novartis got tentative approval for its merger with generic manufacturer Hexal, Glaxo added an indication for its anti-coagulant drug, Abbott received marketing approval for a vitamin D drug for kidney patients, and Alkermes now has priority review for its alcoholism drug. More details...