text: Biopure, biotech stocks move up - MarketWatch
  Biopure, biotech stocks move up
  Published: May 8, 2001 6:04 p.m. ET
  NEW YORK (CBS.MW) - Biotechnology stocks gained ground Tuesday, with shares of Biopure surging 10 percent after the company said its experimental blood substitute produced encouraging results in late-stage patient testing.
  The Amex Biotechnology Index BTK, -1.61% added 1.4 percent and the Nasdaq Biotechnology Index NBI, -1.84% gained 1.1 percent.
  Shares of Biopure BPUR jumped $2.76 to close at $30.41. In earlier trading, shares touched a 52-week high of $31.79. Cambridge, Mass.-based Biopure said patient testing showed that the company's blood substitute, Hemopure, eliminated the need for blood transfusion in patients undergoing elective orthopedic surgery.
  Biopure plans to apply later this year for U.S. Food and Drug Administration clearance to sell Hemopure. The company has already won clearance to market Hemopure in South Africa.
  If approved by the FDA, Hemopure will initially be marketed for use in patients undergoing elective surgery. But in an interview with CBS MarketWatch.com, CEO Carl Rausch said Hemopure could eventually be marketed for other uses, including treatment of heart attacks.
  "It's a universal health care product," Rausch said. "It can be used in industrialized and non-industrialized nations."
  Elsewhere, shares of Millennium Pharmaceuticals MLNM gained after the company said a leukemia treatment it developed with Ilex Oncology ILXO won FDA marketing clearance. The companies said the cancer drug, Campath, will be marketed in the United States by Berlex Laboratories, the U.S affiliate of Schering AG SHR, -0.87%
  Shares of Millennium gained $1.52, or 4.1 percent, to $38.57 while Ilex shares closed down 10 cents to $20.