Tuesday's Health Winners & Losers
Cytokinetics (CYTK) said its experimental head-and-neck cancer drug ispinesib failed a clinical trial in which it was meant to reduce or eliminate tumors. Cytokinetics shares were losing 14 cents, or 2.2%, to $6.21.
Allos Therapeutics (ALTH) rose after the company said the Food and Drug Administration granted its lymphoma drug PDX fast-track review status. The stock was up 4% to $3.89.
Baxter International (BAX) is selling its transfusion business for $540 million to a group that includes private equity firm Texas Pacific. Shares of Baxter were up 6 cents at $45.24.
Heart-device makers' stocks were mixed after Merrill Lynch medical technology analyst Katherine Owen issued a number of ratings changes. The analyst downgraded Abbott (ABT) to neutral and Boston Scientific (BSX) to sell. She reiterated her buy rating on Johnson & Johnson (JNJ).St. Jude Medical (STJ), which separately announced that its chronic-pain neurostimulation system received regulatory and reimbursement approval in Australia, was upgraded to buy. Abbott's shares lost 1.3% to $47.61, Boston Scientific was 1.2% lower, trading at $14.50, St. Jude's stock gained 3% to $36.45, and J&J's shares were up 0.3% to $65.29. Other health stocks on the move included Amgen (AMGN), 1.4% higher to $71.26, Elan (ELN), up 1.5% to $15.45, MGI Pharma (MOGN) gaining 2.5% to $17.36, Meridian Bioscience (VIVO) rising 4.9% to $23.59, SkyePharma (SKYE), whose shares were boosted 10.4% to $5, and ViaCell (VIAC), up 4.5% to $4.55. Barr Pharmaceuticals (BRL) lost 1.5% to $51.37, Novogen (NVGN) traded 5.8% lower to $10.37, BioCryst Pharmaceuticals (BCRX) fell 4.1% to $11.11, Valera Pharmaceuticals (VLRX) lost 6.1% to $6.30, and Dyadic International (DIL) shares were off 6.5% to $3.73.
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