Today's Health Winners and Losers

Shares of ViroPharma(VPHM Quote) were among the worst-performing health-related stocks Thursday, plunging 17% after the drugmaker's first-quarter results came in well below Wall Street's expectations.

The company earned $8.2 million, or 12 cents a share, on revenue of $29.4 million. Analysts polled by Thomson First Call expected earnings of 21 cents a share on revenue of $40.2 million. During the year-earlier quarter, ViroPharma earned $17.4 million, or 36 cents a share, on revenue of $27.2 million.

Looking ahead, ViroPharma continues to project full-year revenue of $160 million to $170 million. Analysts project revenue of $171.5 million. The company sees operating income growth of 10% to 20%. Shares were trading down $1.83 to $9.14.

Shares of Ariad Pharmaceuticals(ARIA Quote) vaulted 24% after a jury said that two drugs sold by Eli Lilly(LLY Quote) infringe on one of the company's patents. "The jury ruled unanimously in favor of the plaintiffs in finding that the claims of the NF-(kappa)B patent asserted in the lawsuit are valid and infringed by Lilly with respect to Lilly's osteoporosis drug, Evista, and Lilly's septic-shock drug, Xigris," Ariad said in a press release. Based on the jury's assessment of a reasonable royalty rate, Ariad was awarded damages of about $65.2 million. The jury also awarded damages on an ongoing basis, equal to 2.3% of U.S. sales of Evista and Xigris through 2019, which is when the patent expires.

Lilly said it "strongly disputes the decision" and will seek to have the jury verdict overturned by the trial court judge. If the judge doesn't do so, the company will seek an appeal. Shares of Ariad were trading up $1.32 to $6.86, while shares of Eli Lilly were up 6 cents to $52.02.

Salix Pharmaceuticals(SLXP Quote) fell 9% after the drugmaker posted first-quarter results that missed the mark and cut its 2006 earnings outlook. The company earned $3.7 million, or 8 cents a share, on revenue of $41.9 million. Analysts expected earnings of 12 cents a share on revenue of $43.3 million. During the year-earlier quarter, the company earned $3.4 million, or 9 cents a share, on revenue of $28.8 million.