Business news for Fri, 21 Dec 2007 & with words development+growth. 2 news.

BOSTON (MarketWatch) -- Drug stocks climbed into positive territory early Friday, as shares of Altus Pharmaceuticals were on the rebound after being crushed on Thursday on news that Genentech Inc. was pulling out of a key drug development partnerhip. The Amex Pharmaceutical Index advanced 0.7% to 345.50 and the Amex Biotechnology Index moved up 1% to 812.20. Altus shares were up 6% at $5.75, the day after the company announced Genentech was exiting from a pact to develop a human growth hormone product using Altus' drug delivery technology. Also on the rebound was Amicus Therapeutics , up 4% at $9.95. Amicus shares were hit hard on Thursday after analysts issued notes stating recently-released clinical data on the company's Fabry disease drug indicate it might not be as effective as a rival medication marketed by Genzyme Corp. Shares of Genzyme were up 2% at $76.21.

Hotel pays $819,826 as part of tax break Baltimore has collected its first profit-sharing check from one of the major development projects that got tax breaks from the city over the past decade to help spur economic growth.