Ebb & Flow

Amid the sucking sound of the WTC market meltdown, Actelion (SWX:ATLN) was one of the few companies rewarded for key milestones last week (see Cover Story). The stock closed the week up CHF3 to CHF41 after the FDA issued an approvable letter for Tracleer bosentan to treat pulmonary arterial hypertension (PAH). But partner Genentech (DNA) fell $4.68 (11%) to $39.88 on the week.

Amgen (AMGN) also got no reward for FDA approval of its Aranesp darepoetin alfa to treat anemia associated with chronic renal failure and its filing of an sBLA for Aranesp to treat anemia associated with chemotherapy. The stock closed the week down $8.11 (13%) at $56.02 after slipping $1.47 to $59.38 on 20.1 million shares on Tuesday. ...