Monday's Health Winners & Losers

NeoPharm(NEOL) shares plummeted 70% to $2 after its experimental brain tumor drug, cintredekin besudotox, failed in trials pitting it against MGI Pharma's(MOGN) Gliadel Wafer.

Use of the experimental drug did not lead to a significant difference in overall survival times when compared with the MGI drug after 215 deaths. Gliadel was approved in 1997 to treat brain cancer by delivering the drug directly to the tumor.

Shares of Kosan Biosciences(KOSN) sank 2.4% to $4.94 after the company released early results from small studies on its proposed cancer drug alvespimycin. Infusions of the treatment showed some activity against leukemia in patients whose disease didn't respond to prior treatments, according to trials looking at the drug's safety and efficacy, among other things. Alvespimycin is also being tested as a treatment for a number of other cancers, the company says.

Shares of cancer drugmaker Celgene(CELG) rose 2.8% to $57.35 after the company announced its acquisition of a manufacturing facility in Europe for approximately $46.5 million in cash, with an initial payment of $12.5 million. The plant will initially be used to produce the company's blood cancer drug Revlimid.

Shares of Cell Therapeutics(CTIC) rose 2.7% to $1.91 after the company announced positive results from a small trial on its proposed lymphoma drug pixantrone. According to the trial, 89% of certain patients whose disease came back after previous treatments showed a response to the drug overall, and 63% saw a complete disappearance of their disease.