May 26, 2005 -- Stocks opened higher and stayed there all day, based on an upward revision of the Q1 gross national product. Biotech happily participated in the rally, with the Centient Biotech 200 rising 32 points to 3371.28, a gain of .96%. The S&P 500 was .64% higher, and Nasdaq was up a solid 1.03%. Elan soared after promising that Tysabri would return to the market, Targeted Genetics gained 28% after winning another patent, Johnson & Johnson received a not approvable letter for an add-on indication to an anti-psychotic drug, AstraZeneca won approval for an additional use of an IV antibiotic, Chromos will buy Target Molecules, Glaxo is seeking approval of a flu vaccine, Ariad wants to try its antiangiogenesis drug on sarcomas, and Merck will stop testing of a stroke drug. More details...
