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Article: Boston Biomedica Shares Jump on News of FDA Approval of Products.(Originated from The Boston Globe)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 13, 1997
- Author:
CopyrightCOPYRIGHT 1997 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sep. 13--Shares in Boston Biomedica Inc. of West Bridgewater soared yesterday after the company announced five more products have won U.S. Food and Drug Administration approval.
The company's shares jumped during Nasdaq trading yesterday morning to 9 3-4, up 3 1-2, before closing at 8 3-4. A total of 824,600 shares were traded, nearly 19 percent of all shares outstanding.
The company announced its FDA approvals after the close of trading Thursday. Richard Schumacher, Boston Biomedica's chairman, president and chief executive, attributed much of yesterday's rise to a renewed appreciation of the firm's worth following a market slump.
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