Thursday's Health Winners & Losers

Updated from 12:52 p.m. EDT

Emisphere Technologies (EMIS Quote) was one of Thursday's best performers, rising 7.1%. The company said its orally delivered GLP-1 and PYY diabetes treatment showed positive results in two small clinical trials. Emisphere was up 21 cents to $3.18.

Dendreon (DNDN Quote), which jumped 13% Wednesday, was halted ahead of the Food and Drug Administration's meeting to vote on the safety of the company's prostate cancer vaccine treatment, Provenge. Late Tuesday, the FDA released a report that questions the effectiveness about the drug.

Shares of NeoPharm (NEOL Quote) dropped 10.7% after the Food and Drug Administration said the company will need another phase III clinical trial for its brain cancer drug Cintredekin Besudotox before it can be approved. NeoPharm expects a significant delay in the drug's launch should it run another phase III test. Shares lost 20 cents to $1.67.

UnitedHealth (UNH Quote) was also lower after UBS reduced its rating for the company to neutral from buy, citing valuation. The firm also cut its stock price target to $59 from $67. Recently, UnitedHealth lost $1.94, or 3.5%, at $52.84.

Elsewhere, Merck (MRK Quote) rose 1.7% to $43.95. Cephalon (CEPH Quote) was up 1.7% to $71.67. Schering-Plough (SGP Quote) rose 1.8% at $25.46.

Among other decliners, Nuvelo (NUVO Quote) shed 3.2% to $3.61. Millenium Pharmaceuticals (MLNM Quote) fell 2% to $11.17.