April 13, 2005 -- Although the news flow from biotech and big pharma was largely positive, negative sentiment spilled over from the general market and kept biotech lower. The Centient Biotech 200 lost 25 points or .80% to close at 3120.06. The NYSE Composite was off by 1.03% while Nasdaq took the prize for biggest loser, dropping 1.55%. Millenium revealed good data for first-line use of Velcade against multiple myeloma, the results for a two-year test of Tysabri on multiple sclerosis was just as good as the one-year data (does it matter?), ImClone is delaying submission of Erbitux for a new indication, Kos and Barr resolved their patent dispute, the Q1 numbers for Merck will beat the street slightly, Lilly will hear (at last) about its Zyprexa patent, and Insmed got priority review status for a drug currently in front of the FDA. More details...
