March 28, 2005 -- Biotech slipped lower as trading resumed on Monday, even as the broad market managed to gain some ground. The Centient Bitoech 200 was down by 31 points at 3164.66, a .97% decline for the day. Ligand Pharma took a big hit after Targretin failed two Phase III trials, Ista Pharma lost a little even though Xibrom won FDA approval, the Medicines Company stopped patient enrollment in a trial of Clevelox because of side-effect problems, Teva received FDA approval for a generic version of Zyprexa from Lilly, pending a successful outcome of its patent lawsuit, and Millennium lost a little ground despite adding on an indication for its cancer drug Velcade. More details...
