Opening Glance: Biotechnology

By Associated Press May 16, 2008 Comments (0)

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Shares of large-cap biotechnology companies opened mostly higher Friday, as positive data abstracts from Genentech and ImClone started to be released ahead of the American Society of Clinical Oncology Conference in Chicago.

The broader market slipped as investors digested new record highs for oil and a surprising jump in new home construction. In early trading the Dow Jones industrial average is down 6 points at the 12,986 level.

Here's how several key biotechnology stocks are doing Friday:

Celgene Corp., up 66 cents at $59.95.

Amgen Inc., up 6 cents at $42.11.

Biogen Idec Inc., up 27 cents to $63.17.

Genentech Inc., up $1.31, or 2 percent, to $70.14 to $69.48.

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DocumentId: 646721, ~/articles/articlehandler.aspx, 7/9/2008 3:30:06 AM, No ticker

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