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Iomai shares surge on premium buyout offer

Shares of Iomai Corp. surged Tuesday after the biotechnology company said vaccine maker Intercell AG offered a buyout deal of $189 million, a sharp premium for the shares. (AP, 12:55 p.m.)

Pfizer to close Indiana plant; 140 jobs lost

Drug maker Pfizer Inc. announced Tuesday it would close its western Indiana manufacturing plant by the middle of next year. (AP, 12:48 p.m.)

Sector Snap: Cancer Treatment Conference

Early and midstage study data could give several cancer treatment developers a boost over the next few weeks as small and midcap companies release presentation previews for the upcoming annual American Society of Clinical Oncology meeting. (AP, 12:21 p.m.)

FDA warns Immocor for manufacturing violations

Federal regulators have issued a warning to blood-testing equipment maker Immucor Inc. for lax manufacturing procedures at a plant in Georgia. (AP, 12:21 p.m.)

Medarex shares rise following analyst upgrade

Shares of biotechnology company Medarex Inc. rose Tuesday after a Needham & Co. analyst raised his rating on shares to "Buy" from "Hold," based on the company's pipeline and developments expected throughout the year. (AP, 12:09 p.m.)