The Day In Review: Genentech, Inc. Back On Offense

January 17, 2006 – Genentech released interim data on Lucentis, its blindness drug, showing the effectiveness of this much anticipated new therapy; also, Genentech announced it would stop a test of Xolair, its asthma drug, as a therapy for peanut allergies; the FDA awarded Fast-Track status to BioCryst for peramivir, a potential treatment for bird flu, sending BioCryst soaring 17.7% higher; deCode Genetics discovered a gene that puts people at risk for type 2 diabetes; MannKind released positive data from a Phase IIb trial of its inhaled insulin drug; Avigen licensed a neuroactive compound called tolperisone that treats neuromuscular spasm and spasticity; after failing to make its IPO early last year, Targacept re-filed for an IPO today; Nuvo Research released positive data from a Phase III trial of an arthritis treatment, Pennsaid; Genzyme said the FDA would take another 3 months before ruling on approval for its Pompe disease therapy; and, in a surprise move, Boston Scientific offered a jaw-dropping $80 per share for Guidant, topping the bid of $71 per share that Guidant and Johnson & Johnson had agreed upon. The Centient Biotech 200™ moved up 15 points to end the session at 4034.37, a rise of .38%. More details...

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