Stocks In Motion

Health Stocks in Motion

 

Updated from 3:01 p.m. EDT

Shares of ViroPharma(VPHM) were among the best-performing health and pharmaceutical stocks Monday after Schering-Plough(SGP) said it would pay $10 million to license ViroPharma's cold drug.

Schering-Plough will develop the drug and market it in the U.S. and Canada. ViroPharma could receive as much as $65 million in additional payments if it achieves certain milestones. Previously, the two companies had only entered into an option agreement to license the drug. Shares of ViroPharma traded up 21 cents, or 10.8%, to $2.15.

StemCells(STEM) rose after it received a patent for work covering composition of matter claims for the human neural stem cell. The patent covers human neural stem cell cultures derived from any source, the company said. Beginning next year, the biotech company intends to begin the process of clinical testing in neural stem cells to treat an array of diseases of the central nervous system. Shares of StemCells traded up 12 cents, or 8.2%, to $1.58.

Shares of Discovery Partners(DPII) rose after the company received a $24 million order from the National Institute of Health. Under the multiyear contract, Discovery will set up and maintain a small molecule repository in San Francisco to manage and provide chemical compounds to NIH screening centers as part of the NIH Roadmap initiative. The contract is scheduled to run from August 2004 through December 2008. Shares traded up 14 cents, or 3.3%, to $4.44.

Pharmos(PARS) fell after it sold nearly $17 million in stock. The drug company sold about 5.58 million shares of stock for $3 apiece. The sale was part of a shelf registration that was declared effective in November 2003. Monday's transaction completes the balance of its shelf registration. The proceeds will be used for general corporate purposes. Shares of Pharmos traded down 37 cents, or 10.6%, to $3.13.

Other health care volume movers included Pfizer(PFE), down 9 cents to $31.65; Amgen(AMGN), down 15 cents to $58.05; Mylan Labs(MYL), up 27 cents to $17.16; Boston Scientific(BSX), up 68 cents to $35.20; and Johnson & Johnson(JNJ), up 1 cent to $57.05.

>To order reprints of this article, click here: Reprints

TheStreet Premium Services

Jim Cramer
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
Dow Jones S&P 500 NASDAQ 10-Year Note
12,419.86 1,313.32 2,837.36 16.25
Oil *
103.00
DOWN
160.83
DOWN
19.10
DOWN
33.63
DOWN
1.06
10 Yr
1.62%
SPDR Gold
151.91
-1.28%
-1.43%
-1.17%
-6.12%
Data delayed 20 minutes

Top Stories and Tools

Articles From

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet