June 15, 2005 Even though Wall Street received news that inflation was tame in May and that economic activity was moving higher, broad indexes managed only a small increase in price today. For its part, biotech did not choose to join the small celebration, but traded slightly lower, staying in negative territory throughout the session. At the close, the Centient Biotech 200 was off almost 8 points at 3327.40, a loss of .24%. GlycoGenesys detailed the mechanism behind its cancer drug, Chiron reduced expectations for its flu vaccine output and 2005 earnings, Idevus reported equivalency for the controlled-release form of its bladder control medication, an FDA panel warned about outpatient use of Natrecor from J&J, a major holder will vote against the merger between Corixa and Glaxo, and Bristol-Myers Squibb will voluntarily stop advertising new medications for the first year following launch. More details...
