Biotech Sector Weekly Rewind

BOSTON (TheStreet) -- Adam Feuerstein's take on the biotech week that was Nov. 1, 2010:

The week's best-performing stocks in the sector: Avanir Pharmaceuticals (SYMBOL) (+98%), Aastrom Biosciences (ASTM) (+39%), Jazz Pharmaceuticals (JAZZ) (+34%), Repros Therapeutics (RPRX) (+23%), and Curis (CRIS) (+19%).



It was Hep C-apalooza in Boston this week at the American Association for the Study of Liver Disease (AASLD) annual meeting, which included important updates from Vertex Pharmaceuticals (VRTX), Merck (MRK) and others.

One guy who didn't enjoy his time at AASLD was Dr. Yves Benhamou, arrested on criminal fraud charges for allegedly tipping off a hedge fund with insider information about negative clinical trial results.

Bad Medicine: When Doctors Tip Off Wall Street.

Cell Therapeutics (CTIC) submitted the lymphoma drug pixantrone for European approval.

The top FDA drug approval pickers.

GenVec (GNVC) received no bidders for the company.

Fear the Beard! The San Francisco Giants win the World Series!

FDA approves Cadence Pharmaceuticals' (CADX) injectable painkiller Ofirmev but investors sell the stock.

FDA review of Bristol-Myers Squibb's (BMY) melanoma drug Ipilimumab extended three months. The new approval decision date is March 25, 2010.

Questcor Pharmaceuticals (QCOR) launches Acthar as a treatment for infantile spasms.

The week's worst-performing stocks: Biodel (BIOD) (-48%), Angiotech Pharmaceuticals (ANPI) (-44%), AspenBio Pharma (APPY) (-29%), ARYx Therapeutics (ARYX) (-20%), and Anthera Pharmaceuticals (ANTH) (-15%).

Adventrx Pharmaceuticals (ANX) submits FDA approval application for the chemotherapy drug exelbine (ANX-530).

Biogen Idec (BIIB) fires 15% of its workforce as part of a corporate restructuring and cost-cutting plan.

FDA Drug Approvals for October

Dendreon (DNDN): Provenge sales, guidance fall short.

Exact Sciences (EXAS) prices 10 million shares at $6 a share.

MannKind (MNKD) Accused of Data Fraud Coverup.

This week's Biotech Stock Mailbag: Orexigen Therapeutics (OREX), Exact Sciences, Spectrum Pharmaceuticals (SPPI), Avanir Pharmaceuticals and MannKind.

Savient (SVNT) Pharmaceuticals to launch gout drug Krystexxa on Nov. 30.

Roche offers secret rebates to doctors who prescribe eye drug (via New York Times)

CT scans help detect early lung cancer in smokers (via New York Times)

Biovail (now Valeant Pharmaceuticals (VRX) to hedge fund: I'm sorry! (via Pharmalot)

Roche melanoma drug show promise (via Reuters)

Conflict of interest rules: Going too far? Judging by the low quality of recent FDA advisory panels, the answer is definitely "yes!" (via Pharmalot)

--Written by Adam Feuerstein in Boston.



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Adam Feuerstein writes regularly for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.