Amgen Soars, Transkaryotic Therapies Plunges After Patent Ruling

Amgen(AMGN Quote - Cramer on AMGN - Stock Picks) and Transkaryotic Therapies (TKTX Quote - Cramer on TKTX - Stock Picks) headed in different directions this morning, in the first regular trading session since a federal judge ruled in Amgen's favor in a patent dispute.

Shares of Amgen, which is based in Thousand Oaks, Calif., climbed 11.8%, or $7.06, to $67 in recent Nasdaq trading, while Transkaryotic plunged $13.50, or 39.9%, to $20.50, falling past its 52-week low of $22.50 on May 26. Transkaryotic has traded as low as $16.88 this morning.

On Friday, a federal judge found that Transkaryotic, a biopharmaceutical company based in Cambridge, Mass., infringed on Amgen's patents for Epogen, the company's anemia-fighting drug.