) -- The biotech sector in rewind for the week ending Oct. 8, 2010:


(SNY) - Get Report

launched a $69-a-share hostile tender offer for


( GENZ) after efforts failed to reach a takeover agreement with Genzyme management on more friendly terms. Then, both companies bickered over whether Sanofi offered $80-a-share, or not. Next week, the scheduling of the muay thai bout between Sanofi's Chris Viehbacher and Genzyme's Henri Termeer. My money is on Viehbacher.


(IMGN) - Get Report

TDM-1 Looks Strong at ESMO

The FDA extended the review period for

Salix Pharmaceuticals'


Xifaxan by three months to March 7, 2011. Salix is seeking to expand Xifaxan's approved label to include the treatment of non-constipation irritable bowel syndrome. The original FDA drug approval decision date was Dec. 7.

Cell Therapeutics

(CTIC) - Get Report

CEO Jim Bianco sold 400,000 shares of company stock at 37-38 cents a share.

This week's

Biotech Stock Mailbag


Cyclacel Pharmaceuticals

(CYCC) - Get Report


Seattle Genetics

(SGEN) - Get Report


Anylam Pharmaceuticals

(ALNY) - Get Report


Adventrx Pharmaceuticals



Celldex Therapeutics

(CLDX) - Get Report


(Not so) fun fact: $1.7 billion in funds exited the healthcare sector in the first nine months of the year, while $15.2 billion in funds were sunk into all equity funds during the same time period, according to


. (Hat tip: ISI Group biotech analyst Mark Schoenebaum.)

The week's top-performing sector stocks:

Anthera Pharmaceuticals



Idenix Pharmaceuticals



Neurocrine BioSciences

(NBIX) - Get Report


Nymox Pharmaceuticals

(NYMX) - Get Report

(+21.9%) and

Nile Therapeutics

( NLTX) (+21%).

Notable financings:


(CELG) - Get Report

raises $1.25 billion through a corporate bond sale; Cyclacel Pharmaceuticals nets $14 million in a private placement of stock and warrants.

Notable financing for all the wrong reasons:


(SPEX) - Get Report

pulls the trigger on an intraday, Rodman and Renshaw-led preferred stock and warrants sale just hours after releasing questionable phase III diabetes data.


FDA drug approval-palooza starts off on wrong foot

with complete response letters issued to



for the pain reliever Dyloject and

Human Genome Sciences

( HGSI) for its hepatitis C drug Zalbin.

More FDA drug approval decisions coming next week:

Alexa Pharmaceuticals



Jazz Pharmaceuticals

(JAZZ) - Get Report

on Monday night,


(ALKS) - Get Report

on Tuesday night.




hepatitis C drug danoprevir to Roche

, makes all-or-nothing bet on its lung drug pirfenidone.

As chief executive, David Nance drove

Introgen Therapeutics

into bankruptcy and disgrace, but his best pal Texas Gov. Rick Perry continues to supply Nance with taxpayer funds.

The Dallas Morning News has all the illuminating details


Onyx Pharma


delays multiple myeloma drug approval filing


The week's worst-performing sector stocks:


(SPEX) - Get Report





SCOLR Pharma

(DDD) - Get Report



( BLUD) (-17.1%) and

AspenBio Pharma



Wait… I thought


(PFE) - Get Report

was going to buy

Generex Biotechnology


? Rumor mill says Pfizer

reportedly interested in acquiring experimental diabetes pill

from India's

Biocon Ltd.



from @lisamjarvis.

The Wall Street Journal's

Ron Winslow writes about an innovative

go-fast breast cancer study design


@adamfeuerstein's tweet of the week:

Somaxon Pharmaceuticals


$SOMX -- 4 weeks since the Silenor launch... Guess how many scripts have been written? C'mon, guess...

The answer is... 99 Silenor scripts! Not 99 dozen scripts.

Just 99 scripts

in four weeks. Ouch. $SOMX making $VNDA's Fanapt look like a rocket.

Factoid: The number of publicly traded biotech companies in the U.S. has dropped by 25% in the past three years, according to the Biotechnology Industry Organization. Me: 25%? Is that all? Should be more.

Abbott Labs

(ABT) - Get Report

pulled the weight-loss drug Meridia from U.S. market.


Boston Globe

sits down with

newly appointed Biogen Idec(BIIB) - Get Report CEO George Scangos


ESMO Preview: Cancer Stocks to Watch


Readers Pick Drug Approval Winners and Losers


--Written by Adam Feuerstein in Boston.

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Adam Feuerstein


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

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