May 3, 2005 -- Biotech made it three-gains-in-a-row on Tuesday, a day in which the Fed followed its well-advertised script and raised interest rates by another quarter of a point. After the Fed announcement, stocks traced out their usual post-Fed z-shaped trading gyration, but the net changes were not large. At the end of the day, the Centient Biotech 200™ was up almost 25 points at 3216.14, a .78% rise. Biovail sold the US rights to Cardizem to Kos Pharma for $104 million, Generex received marketing approval in Ecuador for its Insulin spray, Memory announced a $2 million milestone from Roche, and InterMune stopped a Phase II trial early because its drug was so effective. More details...
