Health Stocks in Motion

Shares of BioCryst Pharmaceuticals(BCRX Quote) were among the best-performing health-related stocks Wednesday, soaring 37% after the drug developer signed an exclusive license agreement with Roche that could be worth as much as $530 million

As part of the agreement, Roche will obtain the worldwide rights to BCX-4208, a compound aimed at T-cells in transplant patients, and pay BioCryst $25 million upfront and $5 million as reimbursement for the supply of material during the first two years of the collaboration. Future payments could reach as much as $530 million if certain product sales targets are met. "This collaboration not only produces a substantial strategic and economic benefit to BioCryst, it also provides all of the essential elements for the rapid, comprehensive and competitive development of BCX-4208," BioCryst said in a statement. Shares of BioCryst were trading up $4.35 to $16.16.

Discovery Partners (DPII Quote) fell 10% after the company, which provides research services and products to the pharmaceutical industry, ended discussions with Pfizer(PFE Quote) to extend a long-term collaboration that expires at the beginning of 2006. As a result, Discovery Partners will shut down all of its operations at its South San Francisco facility, with the exception of its compound management business. Employees outside of the compound management operations will either be relocated or laid off. At the end of the collaboration period, which officially expires on Jan. 5, Discovery Partners will have received about $92 million in revenue from Pfizer from 2002 to 2005, including sales of $2.9 million during the fourth quarter. Discovery Partners shares were down 27 cents to $2.34. ...