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Biotech stocks followed the broader markets Friday into a slump ahead of the extended holiday weekend.
The Amex biotechnology and pharmaceutical indices were both down -- 0.7% and 1.3%, respectively. But some stocks still found success.
Vivus (VVUS Quote) shares rose Friday on positive interim data for a midstage study that was published in an abstract Thursday. The company's obesity drug Qnexa led to a reduction in patients' blood glucose levels of 1.1% vs. 0.6% in the placebo, and resulted in a 6.2% weight reduction vs. 1.2% in placebo. Shares climbed $1.49, or 26%, to $7.20. ...
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