January 11, 2006 – Valentis moved sharply higher after reporting positive interim data on its peripheral arterial disease drug; Theravance soared after announcing that GlaxoSmithKline would begin a Phase IIb trial of their partnered asthma medication; Altus Pharma set terms for its IPO while Glycotex withdrew its filing; PR Pharma has contracted with OSI Pharm to develop a long-acting release formulation of Macugen; Celera Genomics will abandon the drug development business to concentrate instead on diagnostic tests; Merck won an expanded indication for its anti-nausea drug Emend; Mylan Labs will provide Cephalon with its patch technology for drugs treating pain and central nervous system disorders; and Caprion Pharma sold an unspecified number of cancer targets to ImClone. The Centient Biotech 200™ was 27 points lower at 4046.58, a loss of .66%. More details...
