This Day On The Street
Continue to site
ADVERTISEMENT
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

Wednesday's Health Winners & Losers

Updated from 12:25 p.m. EDT

On a flat to positive day for health stocks Wednesday, several companies declared breakups, acquisitions, patent rulings and approvals.

RNAi therapeutic company Alnylam (ALNY - Get Report) and Merck (MRK) said Wednesday that they mutually agreed to terminate their July 2006 amended-and-restated collaboration agreement.

Merck agreed in October 2006 to pay $1.1 billion for Sirna (siRNA) Therapeutics, an Alnylam competitor that develops RNAi technology. Alnylam said Wednesday that it rescinded all grants of its intellectual property related to current and future Merck development programs, including former co-development programs. The company maintained guidance that it will have $435 million in cash by the end of the year.

Alnylam shares closed up $1.28, or 4.1%, to $32.40. Merck closed up 99 cents, or 2%, to $51.56.

Not everyone was breaking up. Allergan (AGN - Get Report) announced a $370 million all-cash deal to acquire privately held Esprit Pharma, which markets Sanctura for overactive bladder. The Food and Drug Administration recently granted approval for an extended-release version of the drug. Allergan shares rose 82 cents, or 1.3%, to close at $63.03.

Related to that acquisition, Indevus Pharmaceuticals (IDEV), which licensed Sanctura to Esprit, said Wednesday that it amended its license, commercialization and supply agreement with Allergan. Indevus shares slid 43 cents, or 5.9%, to close at $6.85.

Elsewhere, biotechnology company Neuralstem (CUR - Get Report) said the U.S. Patent and Trademark Office ruled in its favor in a patent dispute with StemCells (STEM - Get Report).
1 of 2

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
ALXA $0.99 -1.00%
ALNY $119.12 0.35%
AGN $306.79 0.03%
AZN $65.58 0.71%
CUR $1.79 -4.80%

Markets

DOW 17,751.02 +67.44 0.38%
S&P 500 2,082.45 +13.69 0.66%
NASDAQ 4,999.55 +7.61 0.15%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs