Friday's Health Care Winners & Losers

Shares of over-the-counter drugmaker Chattem(CHTT Quote) jumped Friday after the company announced a $410 million acquisition of five consumer product brands from Johnson & Johnson(JNJ Quote) and Pfizer(PFE Quote). The company will buy ACT mouthwash, Unisom over-the-couter sleep aids, Cortizone anti-itch products, diarrhea treatment Kaopectate, and diaper rash ointment Balmex. Chattem's shares gained 20.1% to $41.35.

Shares of cancer drug developer Genta(GNTA Quote) were up 12.5% to 90 cents after the company said regulators agreed to a trial designed to study a group treated with the drug Genasense compared with a group that will not receive the drug. Both groups will be given the chemotherapy drug fludarabine plus Genentech's(DNA Quote) Rituxan.

Memory Pharmaceuticals(MEMY Quote) shares also rose on an announcement of a private placement. In a press release at the close of trading Thursday, Memory said it entered an agreement with Great Point Partners and MPM Capital for a placement of approximately 28.2 million shares at $1.11 a share. The company will also issue warrants for the purchase of approximately 7.1 million more shares at $1.33 a share to these investors. The deal is expected to raise $32.2 million. Shares were up 11.8% to $1.33.

Drugmaker Schering-Plough(SGP Quote) said the European Union approved its Suboxone tablets for the treatment of opioid dependency in individuals aged 15 and older. Shares settled a penny lower midday to $22.09 after jumping higher in early trading.

Among other health stocks falling Friday wereSanofi-Aventis(SNY Quote), down 2.6% to $43.45; AstraZeneca(AZN Quote), falling 1.8% to $61.88; Amgen(AMGN Quote) off 1.4% to $73.72; Novo Nordisk(NVO Quote) 3.2% lower to $71.81; and Novogen(NVGN Quote), whose shares dipped 0.8% to $10.40.

Those moving higher included La Jolla Pharmaceutical(LJPC Quote), up 1.7% to $3.60; Osiris Therapeutics(OSIR Quote) gaining 6.7% to $11.37; Ligand Pharmaceuticals(LGND Quote) up 1.8% to $10.12; and GlaxoSmithKline(GSK Quote), up 0.5% to $54.18 following a significant jump earlier Friday morning.