This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Thursday's Health Winners & Losers

Cell Therapeutics (CTIC - Get Report) and Biogen Idec (BIIB) struck a deal on a less-than-enchanting day for health stocks Thursday.

Cell Therapeutics said it will acquire Zevalin, an FDA-approved radioimmunotherapy, from Biogen for $10 million in cash up front, up to $20 million more in milestone payments upon receiving approval for a first-line indication in NHL and royalties on sales. The FDA approved the drug in 2002 to treat patients with relapsed indolent non-Hodgkin's lymphoma (NHL).

Cell Therapeutics will develop and market Zevalin in the U.S. It is sold outside the U.S. by Bayer Schering under and agreement between Biogen and Bayer Schering. Cell Therapeutics agreed to share the cost of certain clinical trials that may be undertaken with Bayer Schering.

"Acquiring Zevalin returns CTI to a select group of biotech companies who market and sell a commercial product in the United States. We see potential for substantial revenue growth for this product with additional clinical data and increased patient and physician knowledge about its potential in treating patients with NHL," said Cell Therapeutics CEO James Bianco.

Cell Therapeutics was up just one cent, or 0.3%, at $3.48 at close. Biogen closed up 64 cents, or 1.1%, at $59.10.

Covidien (COV) said Thursday that enhancements are available to its MRidium MRI Infusion System, a non-magnetic IV infusion pump. The enhancements allow operators to administer intravenous medication more efficiently. Covidien traded down 79 cents, or 2%, at $37.26.

Investors were disillusioned with falling revenue-and-earning projections from Amgen (AMGN - Get Report) on Thursday. The company responded Wednesday to pressures on chemotherapy-induced-anemia drug Aranesp's U.S. sales with a reconstruction plan that involved a 12% layoff.

The stock gave up $1.41, or 2.8%, to 49.18. Amgen is a component of the Nasdaq biotechnology index, which was down 2.89, or 0.4%, to 784.36.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CTIC $0.47 5.90%
BIB $40.10 1.10%
AMGN $154.11 -0.04%
COV $106.71 -1.26%
AAPL $93.16 -0.49%


Chart of I:DJI
DOW 17,650.65 -0.61 -0.00%
S&P 500 2,049.81 -1.31 -0.06%
NASDAQ 4,720.7820 -4.8570 -0.10%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs