May 16, 2005 Biotech started the week off positively, moving higher in concert with stocks in general. The after effect of the giant ASCO annual meeting, held over the weekend, was relatively muted, with large moves saved for the few genuine surprises. The Centient Biotech 200 moved up 24 points to close at 3298.09, a rise of .73%. That was a less enthusiastic climb than the S&P 500, which gained 1.01%, or the Nasdaq, which rose .89%. At ASCO, Celgene starred with Revlimid, Novartis disappointed with an Avastin competitor, Genentech was very strong, though Omnitarg was ineffective, and Bayer and Onyx reported good numbers for Sorafenib, though many thought Sutent from Pfizer was better, Insegia from Aphton failed a Phase III trial, Cytos has a potential vaccine for nicotine addiction, and CollaGenex will exit the dental field after a generic equivalent to Periostat won approval. More details...
