The Day In Review: MGI Pharma Inc. Surges On Trial News

December 21, 2005 -- MGI Pharma announced positive results from a Phase II trial of Aquavan, its quick action, injected sedative; Genzyme bought the gene therapy business segment from Avigen for $12 million upfront; Biovail won FDA approval for its antidepressive medication, Citalopram, an orally disintegrating tablet; Prestwick Pharma withdrew its IPO application before ever floating an expected price range or number of shares; Oscient Pharma settled with the FDA over a special protocol assessment for its treatment of Clostridium difficile-associated disease; Sanofi-Pasteur licensed the Micro-Delivery technology from Becton Dickinson for use in its human vaccines; Takeda Pharma and Abbott Labs have given the rights for over-the-counter versions of Prevacid, an ulcer drug, to Novartis; and GlaxoSmithKline has renewed its contract sales program for 2006 with PDI Inc. The Centient Biotech 200™ was up almost 46 points at 3973.11, a 1.16% gain. More details...