Wednesday's Health Winners & Losers

Shares of Avant Immunotherapeutics(AVAN Quote) sank after the company said it disagrees with royalty rates paid by GlaxoSmithKline(GSK Quote) for the rotavirus vaccine Rotarix for its sales in Europe and Australia. According to Avant, Glaxo paid a lower royalty rate, 70% of the full rate, because the vaccine is not covered by the patents the drug giant licensed from Avant in those regions. Avant shares fell 6.3% to $1.33.

Threshold Pharmaceuticals(THLD Quote) said its chief medical officer, Dr. Alan Colowick has resigned, effective Oct. 13. Colowick, who joined the company in January 2005, will be a consultant to the company's scientific advisory board. Shares dipped 0.8% to $2.57.

Pozen's(POZN Quote) shares rose after the company said that migraine sufferers who were treated early with its drug Trexima remained pain-free longer than those who were treated late, according to analyses of four separate trials. Shares were up 1.8% to $12.55.

Connetics(CNCT Quote) received Food and Drug Administration approval for its topical eczema drug Verdeso, a foam delivered by using the company's VersaFoam emulsion formulation technology. Shares of the specialty pharmaceuticals company were boosted 5.8% to $10.91.

Vertex Pharmaceuticals'(VRTX Quote) shares rose 3.6% to $33.39 after the stock was upgraded by analysts at UBS Investment Research to buy from neutral.

Keryx Biopharmaceuticals'(KERX Quote) shares rose 4% to $13.32 after the company announced that it appointed accountant Jack Kaye to its board of directors. Kaye retired from a partnership at accounting firm Deloitte & Touche, where he worked since 1970.