The Day In Review: Dyax Corp. Jumps On Positive Data

April 13, 2007 -- Dyax jumped 49% on news its hereditary angioedema drug produced positive data in a Phase III trial; Arcoxia, the COX-2 painkiller from Merck, got a thumbs-down from the FDA advisory committee, but Merck soared after a federal judge dismissed a class action lawsuit against the company; Qiagen struck at deal to buy eGene for $34 million; GlaxoSmithKline received FDA approval for Altabax, a topical treatment of impetigo; Alkermes won approval for a lower dose of schizophrenia drug Risperdal Consta; Eisai withdrew its request for approval in Europe of Aricept, an Alzheimer’s drug; ViroPharma released positive data on its hepatitis C drug from a Phase Ib trial; Anadys said that in vitro studies showed ANA380 was potent against multiple mutant strains of hepatitis B; and Ceregen began a double-blind Phase II trial of its gene therapy drug for Parkinson’s disease. The Nasdaq Biotech Index rose .69%. More details...