The Day In Review: Genentech, Inc. Outperforms In Q1

April 11, 2006 – After the closing bell, Genentech announced better-than-expected Q1 financial results and raised full-year guidance; Salix received an approvable letter for MoviPrep, a bowel cleansing agent used prior to colonoscopy; a federal court ordered the FDA to issue a ruling on Omnitrope, a generic version of a biotech human growth hormone from Sandoz; Myriad Genetics signed a five-year drug discovery deal with Abbott Labs; Merck was ordered to pay $9 million in punitive damages to a Vioxx patient; Invitrogen partnered up with Signalomics to develop nanocrystal reagents as cancer imaging agents; Chiron moved a melanoma drug into a Phase I trial; Accentia will begin shipping its new inhaler, called MD Turbo; a respiratory compound from Pharmacopeia was chosen by Schering-Plough for development; and AlphaRx out-licensed Indaflex, its topical non-steroidal anti-inflammatory drug, to Proprius Pharma. The Centient Biotech 200™ closed at 3782.87, a loss of 44 points or 1.16% on the day. More details...

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