Several positive headlines for various drug companies combined to push the biotech sector higher and bring the other indices along with it. Keith Bliss of Cuttone points out the biotech sector had been oversold, but with good news buyers came to the table. Amgen's cholesterol drug sees positive results and Biogen receives approval from the FDA on a hemophilia drug, while Curis has positive developments on its cancer drug and Novartis sees success with its heart failure drug.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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