May 6, 2005 The general market parted ways with biotech for most of the session, with broad indexes moving higher upon positive employment data, but biotech selling off. As the session wore on, both biotech and the general market regressed toward the mean, with everybody ending fairly close to unchanged. The Centient Biotech 200 was off about 2 points at 3246.93, a decline of .05%. The S&P 500 was down a similar amount, a negative .06%, while Nasdaq was higher by .28%. Bioval received FDA approval for Tramadol ODT, a chewable pain tablet; an FDA panel did not recommend a leukemia treatment from Johnson & Johnson, saying it helped only a few patients; Keryx Bio released positive data about a drug for diabetic neuropathy; numerous IPO candidates weighed in with news; and Able Labs inked a deal with InvaGen to develop and market six generic drugs. More details...
