This Day On The Street
Continue to site
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

Health Winners & Losers: King Pharma

Health stocks were mixed on relatively light news Monday, with one regulatory-inspired exception.

Big pharma stocks were both up and down -- but not by much -- pushing the Amex pharmaceutical index down about 0.59, or 0.2%, at 317.17. Component King Pharma (kg) continued a second trading day of rebounding from its earnings damage last week. The stock added 36 cents, or 3.4%, to $11.07.

On the biotech side, the Amex and Nasdaq biotechnology indices gained 1.1% and 0.9%.

A component of the Nasdaq index, Cardiome Pharma (CRME - Get Report), was creamed after the company announced receipt of an "approvable" letter for the intravenous version of its Vernakalant, an experimental drug for irregular heart rhythm.

The company said it could take several months to respond to the letter, in which the FDA asked for safety data from ongoing and completed trials. Regulators could require an additional trial, although Cardiome said it is optimistic that won't be the case. The stock was falling $2.55, or 21.3%, to $9.40.

Elsewhere, Enzon Pharmaceuticals (ENZN - Get Report) said it is exploring strategic alternatives for its specialty pharmaceutical business. The company said it might sell the entire business or one or more of its products, and its manufacturing facility in Indiana.

Enzon said it has received confidential interest in all or parts of the specialty pharmaceutical business, and is evaluating the sale process. It previously announced it would spin off its biotech business. Shares were up 4 cents to $8.80.

In earnings, Obagi Medical (OMPI) edged past Street expectations for its recent quarter but scaled back guidance. The company said it earned 20 cents a share on revenue of $27.8 million, while analysts polled by Thomson Reuters had expected 19 cents a share on $27.2 million.
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CRME $8.93 0.45%
ENZN $0.74 1.90%
HALO $17.33 -2.60%
AAPL $117.35 -0.80%
FB $106.29 2.00%


Chart of I:DJI
DOW 17,823.78 +103.86 0.59%
S&P 500 2,094.53 +14.12 0.68%
NASDAQ 5,139.4630 +30.7970 0.60%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs