Friday's Health Winners & Losers

Shares of Aspreva Pharmaceuticals (ASPV Quote) were dropping after the company said the drug CellCept failed to meet its preset endpoints in a phase III trial for myasthenia gravis, a neuromuscular disease.

Following the study's results, Aspreva's shares sank 14.1% to $19.03.

British pharmaceutical company Shire(SHPGY Quote) edged lower despite swinging to a profit in the third quarter and boosting its guidance for the year. The company earned $87.2 million, or 17.3 cents per ordinary share, in the latest quarter, up from a loss of $630.7 million, or $1.26 a share, a year ago. Revenue in the most recent quarter rose to $449.4 million from $376.1 million a year ago.

Looking ahead, Shire now expects revenue growth between 12% and 14% this year, up from its previous estimate of low double-digit growth. However, the company believes earnings will be impacted by development and marketing costs during the remainder of 2006 and in the first half of 2007. Shire was lower by 0.6% to $54.05.

Dynavax Technologies' (DVAX Quote) dropped 2.6% to $6.41, as the company said that even though third-quarter revenue rose year over year, its loss widened.

The drug developer lost $12.2 million, or 40 cents a share, compared with a loss of $8.3 million, or 33 cents a share, a year ago, mostly because of increased development expenses related to its pipeline and lower revenue following the termination of its deal with UCB Farchim.