September 9, 2005 -- An FDA Advisory Panel recommended the approval of Pargluva, an oral treatment for type 2 diabetes from Merck and Bristol-Myers Squibb, Biovail won FDA approval for a once-daily form of pain med Tramadol, Voyager Pharmaceutical filed for an IPO, Pain Therapeutics and Durrect Corporation reported positive data from a Phase III trial of a long acting formulation of oxycodone, and Martek gave up almost 9% of its value after posting a loss for its third quarter. Investors again bid the biotech sector up to a new high, with the Centient Biotech 200 gaining almost 34 points to close at 3924.09, a rise of .87% and some six points above the previous high set on Tuesday. More details...
