socialmedian: Drug stocks advance; Human Genome soars

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Source: Wall Street Journal

Nov 02, 2009

Summary

BOSTON (MarketWatch) -- Drug stocks advanced in early trading Monday as shares of Human Genome Sciences leaped on the release of more positive Phase III clinical data for its new lupus drug Benlysta. The NYSE Arca Pharmaceutical Index was largely flat at 287.23. The NYSE Arca Biotechnology Index , meanwhile, jumped 3.7% to 852.14, propelled by Human Genome, which is the largest component percentage-wise of the biotech index. Human Genome shares were up 35% at $25.13. Benlysta is being developed with GlaxoSmithKline plc .

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