The Day In Review: FDA News And A Big Drug Deal

November 21, 2005 -- GlaxoSmithKline moved lower on news the FDA will limit its multi-billion dollar asthma drug to patients for whom other asthma drugs did not work; the label change will also affect pharma with similar drugs, such as AstraZeneca and Novartis; Cubist said the FDA gave Cubicin priority review status for an add-on indcation; Biogen Idec will warn HIV patients not to take its psoriasis medication; and Incyte signed an $805 million deal with Pfizer that gives the giant pharma rights to its library of CCR2 antagonists, but lets Incyte retain two disease target indications for itself. Biotech kept its positive momentum, with the Centient Biotech 200™ moving 35 points higher to 4023.71, a gain of .88%. More details...