Today's Health Winners and Losers

Shares of Aspreva Pharmaceuticals(ASPV Quote) were among the best-performing health-related stocks Thursday, jumping 15% after the company said its first-quarter revenue would be better than expected.

The pharmaceutical company sees first-quarter revenue of about $62 million, well above the $42.3 million that analysts polled by Thomson First Call projected. Results were helped by a higher-than-expected reconciliation payment of $16 million that's associated with the company's collaboration agreement with Roche. The company now expects royalty revenue to exceed $200 million during 2006. Aspreva plans to issue first-quarter results on April 26. Shares were trading up $3.58 to $27.12.

Thoratec(THOR Quote) fell 5% after the company said it expects to post a first-quarter loss. The medical-device maker projects a loss of $1.7 million to $1.9 million, or 3 cents to 4 cents a share, on revenue of about $48.8 million. The estimate includes stock-based compensation costs of $2.3 million to $2.5 million. Analysts forecast a profit of 9 cents a share, which doesn't include stock-based compensation costs, on revenue of $54.3 million. During the year-earlier quarter, the company earned $3.1 million, or 6 cents a share, on revenue of $50.5 million.

"Our first-quarter results are due to several factors that we do not believe reflect the long-term opportunities for the company," Thoratec said. The company said it was hurt by lower North American ventricular-assist device sales and by slower-than-expected enrollment in a Phase II trial studying its Heartmate II device. Shares were down 96 cents to $17.13.

Shares of CryoLife(CRY Quote) rose 8% after the biosurgical-device company projected better-than-expected revenue for the first quarter and full year. The company sees revenue of $19.4 million, higher than the $18.8 million that analysts project. "We are very pleased with our quarterly revenue performance and expect continued financial improvement throughout 2006," the company said. Last year, the company posted first-quarter revenue of $17.7 million.