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Health stocks traded mixed and slightly lagged the broader market Wednesday as investors digested clinical data and earnings.
The Nasdaq and Amex biotechnology indices ended flat and down 0.3%, respectively, with a few stocks moving substantially on data presented at the International Conference on Alzheimer's Disease in Chicago.
Namely, Elan (ELN Quote) and Wyeth (WYE Quote) shed share value after data were presented following the market close Tuesday on Alzheimer's treatment bapineuzumab. Investors were more than underwhelmed with "mixed" data, sending Elan shares down $14.12, or 41.8%, to $19.63 Wednesday. Wyeth shares lost $5.37, or 11.9%, to close at $39.74. ...
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