August 8, 2005 -- Biotech indulged itself in a down-all-day affair today, continuing its consolidation off the highs set last week Wednesday. The Centient Biotech 200 was off by almost 50 points, closing at 3680.31, a loss of 1.34%. GTC Biotherapeutics sank after releasing a positive scientific paper but also selling an additional 4.6 million shares, Genta declined after placing 19.1 million shares, and SciClone fell after releasing its Q2 earnings report, Quest bought LabOne for $934 million, the German-based Merck opened a US division of its generic drug unit, Isis extended an antisense partnership with Lilly, Pozen submitted a new drug application for a migraine medication, Ortho-McNeil won FDA approval of a shorter regimen for an antibiotic, and Nastech withdrew its registration for 1.5 million additional shares of stock. More details...
