The Day In Review: Biotech Gives Some Back

Published: May 31, 2005

May 31, 2005 After 3-day holiday weekend, investors did not return to Wall Street in a celebratory mood. Given the gains in the stock market during May, a weaker-than-expected Chicago PMI report was enough to convince traders to take some profits, with all major averages trading lower throughout the day. The Centient Biotech 200 moved almost 18 points lower to 3363.26, a .53% loss. Genentech reported more good news about its blindness drug, Lucentis, Idenix moved its Hepatitis C drug further along the clinical path, La Jolla put some hope into its lupus treatment, Renovis signed a pact with Pfizer, and Qiagen bought artus for $39 million. More details...

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