June 28, 2005 Biotech had a banner day, opening higher, then adding to gains as the day progressed and closing at session highs. Although the general market indexes also did well, their gains were outpaced by the rise in biotech. At the closing bell, the Centient Biotech 200 was just shy of the 3400 level, up 51 points at 3399.36, a substantial 1.52% higher on the day. Cubist gained 22% on good Phase III data, Pfizer denied reports that Viagra caused blindness (though it will add a warning to the label), Boston Scientific withdrew a vascular graft product, Santarus said the FDA accepted the Zegerid marketing application, Callisto got a second orphan drug designation for its leukemia drug, Corautus completed a private placement of stock, and Abgenix will consolidate its operations. More details...
