Friday's Health Winners & Losers

Health care stocks were largely flat Friday, as regulatory approvals and promising drug studies countered ISTA Pharmaceuticals'(ISTA Quote) plunge after an FDA rejection.

ISTA shares plummeted 31%, after announcing the Food and Drug Administration didn't approve its new drug application for T-Pred, a topical steroid to treat certain inflammatory ocular conditions. Following the announcement, shares dove $2.99 to $6.65.

However, a slew of positive study data and regulatory announcements helped edge sector indices higher.

Abbott Laboratories'(ABT Quote) announced New Phase II study results that show investigational treatment ABT-874 reduced psoriasis symptoms significantly in the majority of patients treated. Shares rose 46 cents, or 0.8%, to $57.87.

Also, Thoratec(THOR Quote), announced on Friday that the FDA approved enrollment of up to 60 additional patients in the Bridge-to-Transplantation arm of the company's HeartMate II Phase II trial. The cardiovascular disease treatment company's shares climbed 63 cents, or 3.6%, to $17.99.

Good news did not, however, help shares of Teva Pharmaceutical Industries(TEVA Quote). The company announced that new data showed patients with multiple sclerosis who were treated with Copaxone following chemotherapy-drug Mitoxantrone showed improvements and that using Copaxone after Mitoxantrone remained safe and effective for the 24-month treatment period. The results were consistent with a previous 15-month study. But shares traded down 12 cents, or 0.3%, to $39.11.

The return of CFO Robert De Vaere pumped up shares of IDM Pharma(IDMI Quote). De Vaere, most recently CFO of Nexa Orthopedics, which was acquired by Tornier in February, rejoined IDM Pharma as senior vice president and CFO. The company's stock bounded 75 cents, or 9%, to $9.11.