Thursday's Health Winners & Losers

Shares of OraSure Technologies(OSUR Quote) jumped after the company said it signed an agreement with Schering-Plough(SGP Quote) to develop a rapid hepatitis C test.

Under the agreement, Schering-Plough will reimburse OraSure for a portion of the development costs and will provide support in promoting the devices to doctors' offices in the U.S. Shares gained 7% to $8.72.

ImClone's(IMCL Quote) shares were up 7.9% to $29.18 on an upgrade by Merrill Lynch Thursday.

"We believe there may be a short-term trading opportunity in IMCL due to potentially excessive negative sentiment around near-term Erbitux sales and the potential for positive phase III data from the front-line colorectal or pancreatic cancer study, which we do not believe is reflected into the stock," wrote biotechnology analyst Eric Ende in a research report Thursday.

However, the analyst says he remains concerned about the cancer drug's long-term sales potential considering competition from Amgen's(AMGN Quote) colorectal cancer treatment Vectibix. Ende upgraded the stock to neutral from sell. Phase III is the stage of trials conducted just before a drug is submitted for Food and Drug Administration review.

Amgen's shares were boosted 2.8% to $70.33 after the stock was upgraded by Bear Stearns analyst Mark Schoenebaum. The upgrade comes despite possible competition this year by Roche's anemia drug Cera.

Shares of Immucor(BLUD Quote) gained ground Thursday after the company revised its full-year guidance higher on an expected increase in sales.