Tuesday's Health Winners & Losers

Shares of Par Pharmaceutical(PRX Quote) rose 3% Tuesday on news the FDA granted final approval for for its abbreviated new drug application for ondansetron orally disintegrating tablets in 4 mg and 8 mg strengths. Ondansetron ODT is the generic version of GlaxoSmithKline's(GSK Quote) Zofran ODT, used for the prevention of nausea and vomiting associated with emetogenic cancer chemotherapy and certain radiotherapies, and after surgery.

The drug will be marketed in the U.S. by Pliva, a subsidiary of Barr Pharmaceuticals(BRL Quote). Par, which will manufacture the drug, will split sales profits from Ondansetron ODT with Barr. Shares of Par were up 40 cents, or 1.9%, at $22 in recent trading Tuesday. Barr was trading down 27 cents, or 0.5%, at $50.90.

Shares of ImmunoGen (IMGN Quote) traded 3.5% higher Tuesday on news the biopharmaceutical company extended a research deal with Sanofi-Aventis(SNY Quote). The 2003 deal, which has been extended to Aug. 31, 2008, allows Sanofi expanded access to ImmunoGen's tumor-activated prodrug technology. Cambridge, Mass-based ImmunoGen earned $500,000 with the signing of this option agreement. Shares of small-cap Immunogen were up 7 cents, or 1.4%, to $5.27 in recent trading.