BioCentury
ARTICLE | Finance

There are no idle questions

September 13, 1999 7:00 AM UTC

A tidbit of news in the heated-up biotech market was enough to shave more than half a billion dollars off Idec's market cap in a matter of 45 minutes on Thursday.

After opening at $136.688, IDPH shares got as low as $106 intraday after President and CEO William Rastetter told a crowd of investors at The Carson Group-BioCentury NewsMakers in the Biotech Industry conference that about $5 million of the $68 million in reported second quarter sales of Rituxan represented inventory build-up in advance of a 5 percent price increase that was instituted on Sept. 1...