Tuesday's Health Winners & Losers
Sepracor was trading up 75 cents, or 2.8%, to $28.16, while GSK was up 93 cents, or 1.8%, at $53.98.
Moving the other direction was Trubion Pharmaceuticals (TRBN), which said after the market close on Monday that midstage trial results indicated a single, intravenous dose of rheumatoid arthritis drug TRU-015 was more effective than a placebo in treating arthritis symptoms. But Trubion also said its development strategy for TRU-015 will probably include another study before it moves to late-stage testing. Shares gave up $5.46, or 28.6%, to $13.61.
And shares of King Pharmaceuticals (KG) fell $1.03, or 7.2%, to $13.23, Tuesday after a court found patent claims behind its top-selling drug, the blood pressure medication Altace, were invalid.
A lower court had ruled in favor of King and Sanofi-Aventis (SNY), which co-market the drug, holding that Indian drugmaker Lupin's application for a generic version of Altace infringed on the drug's patent. However, the U.S. Court of Appeals for the Federal Circuit ruled in favor of Lupin.The Amex pharmaceutical index, which includes King, was up nonetheless by 2.28, or 0.68, to 338.01.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV