June 23, 2005 Volatility reared its very unpleasant looking head today, with major indexes down more than 1%. Biotech performed fairly well, considering the declines elsewhere. The Centient Biotech 200 was off 30 points at 3341.82, a decline of .90%. The S&P 500 slid 1.08%, and Nasdaq lost 1.02%. The FDA gave accelerated approval to an HIV drug from Boehringer Ingelheim, Vivus touted the results of a new erectile dysfunction drug, Merck has good things to say about a prospective new sedative, AstraZeneca is trying to expand the indication for its migraine drug to adolescents, the FDA has accepted the new drug application from Sanofi-Aventis for the wonder drug Accomplia, and Momenta moved higher on an analyst upgrade. More details...
