January 4, 2006 – The FDA has agreed to let GW Pharma Plc begin a pivotal Phase III test of Sativex, an oral spray product that is derived from cannabis, to treat cancer pain; the US subsidiary of Schering received FDA approval of its once-a-week hormone therapy patch to treat postmenopausal osteoporosis; Sangamo BioSciences announced a second collaboration with Pfizer that expands the province of the original agreement; SGX Pharma set the terms for its IPO; Protein Design Labs will allow Merck to use its humanization technology on two antigens; and Johnson and Johnson said an additional two patients died during a 30-day test of Natrecor, its heart-failure drug. Biotech scored a new all-time high, beating out the old mark by the barest of margins. Today, the CBT 200™ closed .01 higher than the old mark at 4032.33, after gaining 22 points or .55% during the session. More details...
