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Biotech Survives Market Turbulence in November
Date:12/3/2007

e myeloma. Millennium's share value did take a slight hit after reporting that it was dropping development of its MLN3897 for rheumatoid arthritis after it was shown not to be effective in Phase II clinical trial.

Also stubbing their toes were Amgen Inc. and Vertex Pharmaceuticals. Amgen reported that interim results of a Phase III study of anemia drug Aranesp as a breast cancer treatment failed to show a significant difference between patients using the drug and those in control groups. The news came too late to effect the company's share price, which fell to $53 in after-hours trading, having closed the month at $55.25, down 5% (-19% year-to-date).

Vertex Pharmaceuticals Inc's shares closed the month down 21% after safety concerns prompted its partner Merck & Co. to suspend enrollment in their Phase II clinical trial for testing the leukemia treatment MK-0457. One patient was observed with a QTc prolongation, a heart condition that results in irregular heartbeat and could result in a heart attack.

Biotech Industry's Market Cap

The biotech industry's market cap dropped 1.2% in November to close at $484 billion.

Biotech Indices

Index 12/29/06 3/30/07 6/29/07 9/28/07

Burrill

Biotech Select 303.96 317.03 319.5 348.75

Burrill Large Cap

Biotech 424.56 419.97 409.56 450.85

Burrill Mid-Cap

Biotech 171.55 179.02 183.23 199.75

Burrill Small Cap

Biotech

143.6 144.44 142.06 137.03

Burrill Genomics 101.69 107.98 91.68 96.62

Burrill AgBio 124.52 141.8 171.3 179.11

Burrill Industrial 150.85 148.59 163.99 157.54

Burrill Diagnostic 122.79 136.76 149.77 169.72

Burrill

Nutraceutical
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SOURCE Burrill & Company
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