Highlights of weekly biotech stock moves

Elan Corp. plc (NYSE:ELN) was up $0.03 to $6.56 last week after the European Commission approved an MAA for Xeplion paliperidone palmitate from Johnson & Johnson (NYSE:JNJ) for the maintenance treatment of schizophrenia in adult patients stabilized with paliperidone or risperidone. The compound uses NanoCrystal formulation technology from Elan.

Salix Pharmaceuticals Ltd. (NASDAQ:SLXP) gained $0.14 to $33.40 last week despite receiving a complete response letter from FDA for Xifaxan rifaximin 550 mg tablets to treat irritable bowel syndrome (IBS) in which the agency requested retreatment information. Last month, Salix said it expected to receive the letter based on a telephone conversation with the agency...