October 6, 2005. Biotech closed sharply lower in trading today, led lower by its two big-cap leaders, Genentech and Amgen, who face nervous investors as earnings announcements loom in the near future. The Centient Biotech 200 was off by 80 points or 2.15%, ending at 3626. Merck reported that its new vaccine, Gardasil, was 100% effective against human papillomavirus, the Medicines Company cut its 2005 revenue guidance by 25%, Acorda Pharma filed for an $86 million IPO, Adventrx Pharma is almost complete in a Phase II trial follow-up of CoFactor, Schering-Plough and Centocor received European approval to add plaque psoriasis to the label for Remicade. More details...
