Advertisement
YOU ARE HERE: LAT HomeCollectionsSecurities

BRIEFLY

Other News

April 16, 1992|From Times Staff and Wire Reports

Centocor Tumbles on FDA Setback: Centocor Inc., a highflying biotechnology stock just months ago, came crashing down after the company announced that the Food and Drug Administration had rejected its test results for a genetically engineered drug called Centoxin, which is designed to treat potentially fatal bacterial infections. Centocor's stock tumbled $12.75 to $18.50. Although the FDA did not kill Centoxin, it asked Malvern, Pa.-based Centocor to submit more data. That could cause a costly delay in the fiercely competitive race to bring drugs to the $1-billion market for fighting septic infections--serious bacterial infections that afflict surgical patients and victims of burns or wounds.

Advertisement
Los Angeles Times Articles
|
|
|