Monday's Health Winners & Losers
Allergan was up 7.7% to $121.20, and Mentor was higher by 10.3% to $52.47.
The Food and Drug Administration cleared the implants late Friday for women at least 22 years old, saying the "extensive body of scientific evidence provides reasonable assurance of the benefits and risks of these devices."
Cyberonics (CYBX) said two top executives, including longtime CEO Robert "Skip" Cummins, have resigned from the company following a probe into past option grants.Investors were cheering the shakeup, and shares of Cyberonics, the maker of a device for treating depression, jumped 11.2% to $24. Leaving along with Cummins is Chief Financial Officer Pamela Westbrook. Reese Terry Jr., the company's co-founder, former CEO and a current director, has been named interim chief executive. George Parker III was appointed interim chief operating officer, and John Riccardi has been named interim CFO, effective immediately. Shares of CoTherix (CTRX) rose 19.5% to $13.38 after Swiss biotech company Actelion agreed to buy it for $420 million. The deal was unanimously approved by both companies' boards of directors. Actelion will make a cash tender offer of $13.50 for each CoTherix share, representing a 21% premium to the stock's closing price Friday. Anadys Pharmaceuticals (ANDS) was down 2.3% to $4.26 after it named Dr. Lawrence Fritz as its new president and chief executive. The appointment is part of a transition plan announced in June. Fritz will replace Dr. Kleanthis Xanthopoulos, who is also a co-founder of the cancer and antiviral drugmaker. Xanthopoulos, who has served as president and CEO since the company's inception in May 2000, will continue to serve as a member of the board of directors. The chief operating officer of drug developer SciClone Pharmaceuticals (SCLN) has stepped down from his post, the company announced. Shares of SciClone lost 2.1% to $2.74. Alfred Rudolph, who joined the company in 1997, left last Friday. Friedhelm Blobel, the company's president and CEO, will take on the COO duties.
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