Wednesday's Health Winners & Losers

Genentech's(DNA Quote) shares fell Wednesday after the company's sales of its highly touted cancer drug Avastin came in short of expectations for the second quarter. Even though overall earnings and revenue were strong, and Genentech lifted its full-year forecast, shares fell 3.6% to $81.05.

Medical-device maker Cyberonics(CYBX Quote) sank following an announcement that the company would delay filing its form 10-K with the Securities and Exchange Commission pending the completion of an inquiry into its previous stock-option grants and accounting issues arising from the results of the review.

Separately, Cyberonics said it received Food and Drug Administration approval of a new label for its vagus nerve-stimulating device used to treat epilepsy and depression, as well as new programming software for the VNS therapy device model 250. Shares were down 0.9% to $21.62.

Shares of Teva Pharmaceutical(TEVA Quote) fell after the company said it was ending its marketing agreement with Japanese pharmaceuticals company Eisai for the Parkinson's disease drug Azilect. The companies entered the agreement in May 2003, and since then, Teva's neuroscience sales efforts have doubled, the company says. Shares fell 1.6% to $31.57. ...