This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Health Winners & Losers: Biovail

Health stocks, although light on news, closed the week on a down note in line with the broader markets.

The Nasdaq and Amex biotechnology indices each closed Friday down 0.9%. Components Amylin (AMLN)and Biogen Idec (BIIB - Get Report) gave up 1.6% and 2%, respectively.

Trubion (TRBN) said Thursday post close that it extended by one year the research period under its deal with Wyeth Pharmaceuticals, a division of Wyeth (WYE). Under the terms of the extension, Wyeth is responsible for collaboration research funding of roughly $3.2 million in exchange for research services through Dec. 22, 2009. Trubion's shares initially rose, but ended the day down 14 cents, or 2.7%, at $5.14.

Wyeth shares were ended roughly flat at $47.85. The stock is a component of the Amex Pharmaceutical index, which was down 1.3% at 284.77.

Fellow component Merck (MRK - Get Report) said Friday that it met with the U.S. Food and Drug Administration to discuss the not-approvable letter that the company received regarding its new-drug application for cholesterol drug MK-0524A, a combination of niacin and Cordaptive. The company said additional safety and efficacy data are required.

Merck said the earliest it may be able to file a complete response to the FDA action letter will be 2010, and that the FDA suggested it wait for the results of a study expected to wrap up in January of 2013. The company also said it won't seek approval for its MK-0524B until it completes the response for MK-0524A. Shares fell 47 cents, or 1.3%, to $35.13.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs