Thursday's Health Winners & Losers

Millennium Pharmaceuticals(MLNM Quote) rose 6.9% after the company reported third-quarter earnings that exceeded analysts' estimates. The company's loss narrowed to $13.7 million, or 4 cents a share, from a loss of $73.8 million, or 24 cents a share, a year ago. Excluding certain charges, the company earned 2 cents a share, topping estimates by 3 cents, mostly because of lower expenses and higher U.S. Velcade sales.

The biotech's sales were $104.1 million in the quarter compared with the $111 million expected by analysts surveyed by Thomson First Call. However, sales of its multiple myeloma drug Velcade grew 18% in the quarter. Millennium expects adjusted earnings for the full year of between $30 million and $35 million and a loss, after all items are accounted for, of $50 million to $60 million. Shares of Millennium were up 72 cents to $11.18.

Sepracor(SEPR Quote) surged after it swung to a profit in the third quarter. The shares were recently up 7.4% to $52.87. Sepracor's revenue of $289.3 million in the third quarter exceeded the $274.9 million expected by analysts surveyed by Thomson First Call.

Sepracor earned $64.4 million, or 56 cents a share, in the third quarter, including costs of $10.5 million, or 9 cents a share, for stock-based compensation. The company lost $2.5 million, or 2 cents a share, on revenue of $205.7 million in the year-ago period.