Friday's Health Winners & Losers

Updated from 2:20 p.m. EDT

A regulatory decision sent one biotech name up, while a private placement of common stock sent another down Friday.

Adams Therapeutics (ARXT Quote) rose $3.89, or 9.7%, to $43.94 on news that the Food and Drug Administration said manufacturing and distribution of unapproved timed-release versions of the expectorant guaifenesin must stop.

The FDA said about 20 firms make timed-release products containing guaifenesin that have not undergone FDA review and subsequently are considered by the agency to be unapproved drugs. Adams Therapeutics makes the only approved timed-release treatment.

Those marketing unapproved products that contain the drug are expected to stop manufacturing them within 90 days and stop shipping them in interstate commerce within 180 days. Some of the products are expected to be available longer, until supplies run out, however. After that, competing companies must obtain approval or face regulatory action.

Also higher was IDM Pharmaceuticals(IDMI Quote), shares of which bounded 54 cents, or 20.5%, to $3.18. The rise came after a Cantor Fitzgerald analyst predicted the stock will quadruple over the next year after the company launches a cancer drug, according to the Associated Press. The analyst initiated coverage with a buy rating and a target share price of $11.

Other winners Friday include Memory Pharmaceuticals(MEMY Quote), which said it would present a corporate update at health care conferences next week, and Bioenvision(BIVN Quote), which filed an amendment to an agreement with South Research Institute for pediatric leukemia treatment Evoltra, affecting royalties and other terms. Memory Pharmaceuticals climbed 32 cents, or 12.3%, to $2.93. Bioenvision climbed 31 cents, or 6.3%, to $5.25.