shares jumped after
said it plans to acquire the company in a deal worth $515 million. Anormed has agreed to support the deal, which represents a 40% premium to an unsolicited tender offer from
. Shares jumped 26% to $12.64.
said earnings rose during the first quarter, sending shares up 13.8% to $21.90. Sales for the quarter were $20.3 million, up 24% from a year ago.
(CYTR - Get Report)
lost 26.8% to $1.34 after the company said its Lou Gehrig's disease drug arimoclomol did not show a significant change in disease progression. The trial did meet its primary goal of proving the drug's safety and tolerability, however.
shares sank Tuesday after a Piper Jaffray analyst said sales of the company's multiple sclerosis drug Tysabri could be lower than she expected. Shares were trading 2.2% lower to $15.52.
(PDII - Get Report)
shares dropped 9.5% to $11.89 after the company said
(GSK - Get Report)
doesn't intend to renew its contract sales agreement with the company in 2007.
Also falling were
, whose shares sank 7.1% to $44.17,
, down 6.2% to $1.66,
, 4.4% lower to $5.50, and
, off 5.3% to $3.79.
Health stocks rising during the trading day included
(ACOR - Get Report)
, soaring 32.5% to $11.26,
, gaining 10.7% to $2.38,
, up 6.9% to $17.05,
, whose shares gained 6.6% to $24.31, and
, up 26.5% to $2.15.