12:00 AM
Oct 05, 2009
 |  BioCentury  |  Finance

3Q Stock Wrap-Up: All Things Large and Small

Small and micro-caps continued to add to gains in the third quarter, providing the best segment performance for the second quarter in a row. Each group added 13%. Large cap biotechs also made a strong showing, with an 11% gain. But none of the biotech groups outperformed the broader market, as the Dow and S&P each added 15%.

Almost uniformly, the top performers with market caps over $2 billion were driven by a combination of strong 2Q earnings and good clinical and regulatory milestones.

Among this group, UCB Group, Endo Pharmaceuticals Inc. and Shire plc each gained 26%. UCB was up following European approval of Cimzia certolizumab pegol to treat rheumatoid arthritis (RA), which was approved and launched in the U.S. in 2Q. UCB also reported positive Phase IIb data for epratuzumab (IMMU-103) to treat lupus, which is partnered from Immunomedics Inc.

Endo reported its first earnings following the acquisition of Indevus Pharmaceuticals Inc. The specialty pharma also received an...

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