Pharma stocks mostly fell while their biotech counterparts generally kept in the green midweek, presenting a mixed platter of regulatory and business updates Wednesday.
Indevus (IDEV Quote) shares slid 69% to $1.26 Wednesday on news of a Food and Drug Administration delay. The company said regulators will not approve Nebido, a long-acting injectable testosterone, without additional safety data and a new clinical trial expected to take 18 months.
The FDA also said Wednesday that it's looking into a possible cancer risk in a class of drugs called tumor necrosis factor blockers (TNF inhibitors) in young arthritis patients. The drugs include Abbott's (ABT Quote) Humira, Schering-Plough's (SGP Quote) Remicade and Amgen (AMGN Quote) and Wyeth's (WYE Quote) Enbrel. ...
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