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Health stocks traded Tuesday on a variety of business and regulatory news. The Nasdaq and Amex biotechnology indices hopped 1.7% and 1.4%, respectively. They outdid the Amex pharmaceutical index, which registered a 0.8% rise, more in line with the broader markets.
Bellwether Biogen Idec (BIIB Quote) tacked on $3.41, or 6%, to $59.30, while fellow biotech Genentech (DNA Quote) added $2.49, or 3.3%, to $78.39.
A component of the Nasdaq biotech index, Myriad Genetics (MYGN Quote) regained $5.87, or 12.9%, to $51.39 a day after the company said its experimental Alzheimer's treatment Flurizan failed a late-stage study and will no longer be developed. ...
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