Monday's Health Winners and Losers

Inspire(ISPH Quote) jumped 3% after announcing late Friday that the Food and Drug Administration approved AzaSite 1% for treatment of bacterial conjunctivitis. It expects to launch the drug in the third quarter, and predicts $30 million to $45 million in U.S. sales. The stock rose 21 cents to $7.59.

Regenerative medicine company Aastrom Biosciences (ASTM Quote) announced on Monday that it has initiated its U.S. Phase IIb clinical trial to treat critical limb ischemia in patients suffering from peripheral arterial disease. Shares were up 3 cents, or 2.1%, to $1.44 on Monday.

Pharmaceutical company Sanofi-Aventis(SNY Quote) saw shares sink 19 cents, or 0.4%, to $46.06, even though the company announced the FDA approved hyperglycemeia treatment Solostar. The disposable insulin pen for helping treat hyperglycemeia in Type 1 or 2 diabetes patients is expected to be available in U.S. pharmacies later this year.

The Amex Biotechnology Index was down 0.6%, weighed by components Amylin Pharmaceuticals(AMLN Quote), which was down $1, or 2.3%, to $42.01 and Millennium Pharmaceuticals(MLNM Quote), which continues to fall after disappointing earnings and a downgrade by JMP Securities from market perform to market underperform last week. Millennium shares were down 21 cents, or 1.84%, to $11.21.

Kindred Healthcare(KND Quote), which operates acute-care hospitals and nursing facilities, was also down. The company said Monday its first-quarter profit fell 68%, due partly to a $7.8 million loss related to the sale of a group of nursing centers and a charge of $2.5 million for the proposed spinoff of its institutional pharmacy business. Quarterly earnings per share decreased to 20 cents from 58 cents from the year-ago period. Analysts surveyed by Thomson Financial had estimated the company would earn 41 cents a share from continuing operations. Shares fell $1.33, or 3.6%, to $35.17 Monday.