The Week In Review: New Highs For Biotech

September 4, 2005 Biotech closed at a new high this week, despite the devastation caused by Hurricane Katrina. Over the five-day stretch, the CBT 200 moved up almost 110 points to end at 3854.81, a rise of 2.93%. July had 4 straight weeks of ascending markets, August had 4 flat weeks, and now September kicks off with a gain. During the past week,Tercica won FDA approval for its growth deficiency drug, Chiron got a solicited bid from its partner Novartis, and Adams Respiratory, a very recent IPO, continued to rocket higher, profiting on its unusual strategy of winning FDA approval for an over-the-counter drug. More details...