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Tuesday's Health Winners & Losers

Shares of heart-device developer Vasogen (VSGN) jumped after the company announced positive clinical-trial data at a cardiology meeting.

According to data presented at the World Congress of Cardiology meeting in Barcelona, Spain, a trial involving 2,400 patients with chronic heart failure showed that the company's Celacade technology reduced the risk of death and cardiovascular hospitalization by 31%. Shares were up 19.7% to 68 cents.

Applied Biosystems (ABI) was higher after the company reached a settlement with life-sciences company Promega resolving two legal disputes. Terms of the settlement were not disclosed. Shares were up 1.3% to $31.71.

Oscient Pharmaceuticals (OSCI) sank after the company announced an agreement with Auxilium Pharmaceuticals (AUXL) to conclude a marketing partnership for the testosterone gel Testim.

According to the agreement, Oscient and Auxilium will share profits from sales through Aug. 31. Auxilium will pay Oscient $1.8 million in compensation for Oscient's salesforce efforts. Oscient fell 7.5% to $1.11, while Auxilium dipped 0.6% to $8.60.

German drug giant Bayer (BAY) slipped 1.2% to $48.92 after the company announced the expansion of the Shanghai production facilities at its chemicals subsidiary. The facilities will produce polycarbonate and polyurethane.

SkyePharma (SKYE) declined despite an announcement Monday that the extended-release drug Requip delayed symptom recurrence in patients with Parkinson's disease. The extended release version of Requip, a GlaxoSmithKline (GSK) drug, was developed by SkyePharma using its proprietary controlled-release technology. Shares fell 1.7% to $4.70.

Among other stocks on the move were Northfield Laboratories (NFLD), whose shares dipped 1.3% to $10.58, Avalon Pharmaceuticals (AVRX), down 1.4% to $2.82, and Sanofi-Aventis (SNY), off 1.5% to $44.67.

Progenics Pharmaceuticals (PGNX) rose 12.5% to $25.50, Nuvelo (NUVO) was up 1.2% to $20.78, and Accentia Biopharmaceuticals (ABPI) gained 2.6% to $3.09.

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