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Tuesday's Health Winners & Losers

Health indices took to a more positive track Tuesday -- with regulatory and clinical news as well as licensing agreements serving as catalysts for several stocks.

Epix Pharmaceuticals (EPIX) announced results from a midstage, two-week clinical trial of its candidate for Alzheimer's disease. The company said the drug was safe and well-tolerated and that patients who took the 150-mg dose showed statistically significant improvement in cognitive function and memory compared to placebo. Shares added 96 cents, or 32.3%, to $3.93. The stock is a component of the Nasdaq biotechnology index, which was up 7.32, or 0.9%, at 836.20.

Another winner, small-cap Escalon Medical (ESMC - Get Report) said Tuesday that its Drew Scientific subsidiary received approval from the Food and Drug Administration to market the D3 Hematology System, for automatic three-part differential blood analysis. Drew Scientific plans to begin shipments of the product in the U.S. before the end of the year. Shares rose 81 cents, or 24.7%, to $4.09.

Eli Lilly (LLY - Get Report) announced that CEO Sidney Taurel will retire effective March 31, to be replaced by John Lechleiter, current president and chief operating officer.

The company separately announced a licensing agreement with BioMS Medical, paying the company $87 million upfront, milestone payments of up to $410 million and royalties on sales. Lilly predicts a charge of 5 cents a share to earnings for acquired, in-process research and development.

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CYBX $63.11 0.00%
ESMC $1.34 0.00%
LLY $72.47 0.00%
PHG $28.64 0.00%
AAPL $124.75 0.00%


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