January 25, 2005 Bouncing off its recent near-term low, the Centient Biotech 200 had its best day of the new year, rising 39.12 points, or 1.21%, to 3270. As the earnings parade hits full stride, four drug companies reported their results for Q4 in 2004, all of them coming in at close to estimates. The numbers point out again that pharma makes money, even though profits aren’t increasing at the same rates as they once did. Cubist gained 10% on higher revenues and a lower loss, Protein Design gained slightly after spending almost half a billion dollars to buy ESP Pharma, NeoPharm climbed 12% on an upgrade, and GlycoGenesys was up 10% on a second indication for GCS-100LE. We give details...
