August 28, 2006 -- MedImmune will pay up to $500 million to Infinity Pharma for cancer drugs that target Heat Shock Protein 90; Mylan Labs will offer $736 million to take a 71.5% stake in Matrix Labs, an Indian pharma; a seborrheic dermatitis product from Connetics produced positive data in its second Phase III trial; Genentech and Biogen Idec reported Rituxan was effective against relapsing-remitting multiple sclerosis; Zogenix raised $60 million in an A round of financing; Northwest reported solid survival data on its brain cancer vaccine; PDL BioPharma adopted a shareholder rights program; and the FDA rejected an attempt by Epix Pharma to have Vasovist approved without an additional trial. The Centient Biotech 200 rose 31.5 points to 3720.76, an increase of .85%. More details...
