The Day In Review: Centient Consulting Inc. Forecast Drives Biotech Higher

March 17, 2006 – Genentech wowed stock analysts with an impressive growth agenda over the next five years and increased earnings forecast for 2006; Targacept set the terms of its IPO; VaxGen slipped lower because its anthrax vaccine has problems; ViroPharma fell sharply on worries about a generic equivalent to Vancocin; Hana Biosciences will pay Inex Pharma up to $42 million for three cancer drugs; Schering received FDA approval of a new birth control pill; Xcyte approved its takeover by Cyclacel; Stem Cell Therapeutics met safety and pharmacokinetic endpoints in a stem cell trial; Salix Pharma won FDA approval for OsmoPrep, a colon-cleansing drug; and Wyeth stopped a Phase III trial of a breast cancer drug. The Centient Biotech 200™ jumped 38 points higher to 4059.69, a rise of 94%. More details...

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