Thursday's Health Winners & Losers

Health indices were flat and balanced on another heavy earnings day Thursday.

First a non-earnings item, Progenics Pharmaceuticals (PGNX Quote) surged $2.61, or 32.5%, to $10.64 Thursday. The stock was already up nearly 19% from Monday's open prior to Thursday's rally, as investors showed enthusiasm for the prospects of Wyeth (WYE Quote) and Progenics' Relistor for treatment of constipation induced by pain-killers in patients who are receiving palliative care.

The Food and Drug Administration is expected to make a decision on the drug -- previously delayed from January of this year -- on or by April 30. On Thursday, the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) recommended the agency approve Relistor.

Progenics helped to keep the Nasdaq Biotechnology index in the green. The index edged up 0.3% to 806.01.

On to earnings, Bristol-Myers Squibb (BMY Quote) earned $661 million, or 33 cents a share, in the first quarter, down from $690 million, or 35 cents a share, in the year prior. However, the company reported adjusted profit of 42 cents a share on revenue of $5.18 billion. Adjusted results edged past analysts' estimates, who had pegged profit of 41 cents a share on revenue of $5.12 billion, on average.

Shares edged up 78 cents, or 3.6%, to $22.21.

On a GAAP basis, ImClone (IMCL Quote) swung to a loss of $55.9 million, or 65 cents a share, in the recent quarter. But, excluding the impact of an $89.4 million writedown, ImClone reported adjusted profit of $29 million, or 33 cents a share, nearly flat with the $29.8 million, or 33 cents a share, it posted a year earlier.