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    Monday, November 23, 2009

    Drug Stocks Advance; Cephalon Falls On Study

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    By Val Brickates Kennedy
    MarketWatch Pulse
       

      BOSTON -- Drug stocks advanced substantially in early action Monday, echoing gains in the broader market, while shares of Cephalon Inc. fell on news that a later-stage clinical study for its pediatric drug Cinquil came up short-handed. The NYSE Arca Pharmaceutical Index jumped 1.8% to 308.86 and the NYSE Arca Biotechnology Index hopped 0.9% to 873.55. The Dow Jones Industrial Average rose almost 150 points to 10,464. Cephalon shares broke from the upward trend, sliding 8% to $54.98.

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