April 12, 2005 After the release of the the latest Fed meeting minutes, traders felt they had dodged a bullet, and stocks took off dramatically. Biotech followed along, reluctantly. After trading 2% lower for much of the day, it climbed during the final two hours of the session, but never hurdled over the flat line into positive territory. The Centient Biotech 200 closed 18 points lower at 3145.17, a .57% decline. The NYSE Composite was up .26% and Nasdaq climbed .67%. Celgene released more good news about Revlimid, this time against multiple myeloma, Angiotech said that Boston Scientific would test their joint Taxus stent in high-risk patients, investors mulled earnings reports from Genentech and Abbott, and the stem cell group benefited from a WSJ article detailing how big pharma is stealthily getting involved with stem cells. More details...
