The 3 largest chemical suppliers creating C&EN’s biotech index didn’t appear well within the survey

The 2 big drug companies with quarter-to-quarter stock cost declines were Eli Lilly & Co. and Pfizer. Both chemical suppliers had problems. In Pfizer’s situation it had been with a brand new cholesterol drug, torcetrapib. Numerous studies were stopped following a safety monitoring board found a substantial rise in mortality rates among patients taking a mix of torcetrapib and Lipitor, Pfizer’s flagship cholesterol agent.

In Lilly’s situation, the issue was a contract to purchase biotech firm Icos. Frequently, investors just can’t stand acquisitions until they’re proven to operate, as with Albemarle’s situation using the refinery catalyst business.

The end result was that Pfizer’s stock cost fell 8.7% in the third quarter to shut the entire year at $25.90 per share, even though it was still being 11.1% in front of where it absolutely was in the finish of 2005. Lilly’s share cost declined 8.6% in the finish of previous quarter to $52.10. Its closing cost was lower 7.9% year-to-year.

When there was one big sigh of relief, it might came from investors in Merck. Because of its record, so far, in winning lawsuits within the withdrawn joint disease drug Vioxx, caffeine supplier’s stock cost elevated 4.1% in the finish of September and 37.1% in the finish of 2005 to $43.60 per share. Only a number of the a large number of suits happen to be made the decision, however.

One of the biotech companies, Lilly’s $32.00-per-share offer for Icos, ultimately elevated to $34.00, was the smaller sized company’s gain. Icos’ stock cost leaped 34.8% within the quarter, even though it was up just 22.3% in the finish of 2005, to $33.79 per share.

The 3 largest chemical suppliers one of the number of 14 firms creating C&EN’s biotech index didn’t appear well within the survey. The biggest biotech company, Amgen, saw its stock cost decline 4.5% in the finish from the third quarter to $68.31 per share, also it was off 10.% in the finish of 2005.

The amount two company, Genentech, which typically appears to become more esteemed by Wall Street than Amgen, saw its share cost fall 1.9% in the finish of September and 12.3% in the last buying and selling day’s last year.

And Genzyme’s stock declined 8.7% in the third quarter and 13.% in the previous 4th quarter to $61.58 per share.

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