Friday's Health Winners & Losers

Health stocks, such as Tercica(TRCA Quote), neared the long weekend on the uptick refreshed by regulatory approvals and clinical advancements Friday.

Tercica shares rose 1.5% to $6.64 on news partner Ipsen received Food and Drug Administration approval of its Somatuline Depot, a long-term treatment of acromegaly, a disorder caused by overproduction of growth hormone.

The drug will compete with Novartis'(NVS Quote) Sandostatin LAR Depot.

Meanwhile, Novartis' generic-drug division Sandoz received approval in the European Union for its biosimilar epoetin alfa treatment, which works to regulate the formation of red blood cells in patients with renal anemia and patients receiving chemotherapy.

The company said it would quickly bring the product to market, estimating worldwide annual sales of more than $7 billion, including $600 million in Europe. Novartis was trading up 61 cents, or 1.2%, at $52.84.

Caraco Pharmaceutical Laboratories(CPD Quote) said the FDA approved its abbreviated new-drug application (ANDA) to market the generic version of Prometheus Laboratories' gout drug Zyloprim. The agency approved 100-mg and 300-mg Allopurinol tablets. Shares of Caraco rose 48 cents, or 3.4%, to $14.51.

Other companies rose on clinical advancements and development-related news.

Abbott(ABT Quote) and AstraZeneca(AZN Quote) said they'll advance their fixed-dose combination cholesterol treatment into phase III clinical trials. The single pill will combine Abbott's investigational fibrate ABT-335, with AstraZeneca's statin Crestor to target bad cholesterol, good cholesterol and triglycerides.