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Shares of over-the-counter drugmaker

Chattem

(CHTT)

jumped Friday after the company announced a $410 million acquisition of five consumer product brands from

Johnson & Johnson

(JNJ) - Get Johnson & Johnson (JNJ) Report

and

Pfizer

(PFE) - Get Pfizer Inc. Report

. The company will buy ACT mouthwash, Unisom over-the-couter sleep aids, Cortizone anti-itch products, diarrhea treatment Kaopectate, and diaper rash ointment Balmex. Chattem's shares gained 20.1% to $41.35.

Shares of cancer drug developer

Genta

(GNTA)

were up 12.5% to 90 cents after the company said regulators agreed to a trial designed to study a group treated with the drug Genasense compared with a group that will not receive the drug. Both groups will be given the chemotherapy drug fludarabine plus

Genentech's

(DNA)

TheStreet Recommends

Rituxan.

Memory Pharmaceuticals

(MEMY)

shares also rose on an announcement of a private placement. In a press release at the close of trading Thursday, Memory said it entered an agreement with Great Point Partners and MPM Capital for a placement of approximately 28.2 million shares at $1.11 a share. The company will also issue warrants for the purchase of approximately 7.1 million more shares at $1.33 a share to these investors. The deal is expected to raise $32.2 million. Shares were up 11.8% to $1.33.

Drugmaker

Schering-Plough

(SGP)

said the European Union approved its Suboxone tablets for the treatment of opioid dependency in individuals aged 15 and older. Shares settled a penny lower midday to $22.09 after jumping higher in early trading.

Among other health stocks falling Friday were

Sanofi-Aventis

(SNY) - Get Sanofi Sponsored ADR Report

, down 2.6% to $43.45;

AstraZeneca

(AZN) - Get Astrazeneca PLC Sponsored ADR Report

, falling 1.8% to $61.88;

Amgen

(AMGN) - Get Amgen Inc. Report

off 1.4% to $73.72;

Novo Nordisk

(NVO) - Get Novo Nordisk A/S Sponsored ADR Class B Report

3.2% lower to $71.81; and

Novogen

(NVGN)

, whose shares dipped 0.8% to $10.40.

Those moving higher included

La Jolla Pharmaceutical

(LJPC) - Get La Jolla Pharmaceutical Company Report

, up 1.7% to $3.60;

Osiris Therapeutics

(OSIR) - Get Osiris Therapeutics, Inc. Report

gaining 6.7% to $11.37;

Ligand Pharmaceuticals

(LGND) - Get Ligand Pharmaceuticals Incorporated Report

up 1.8% to $10.12; and

GlaxoSmithKline

(GSK) - Get GlaxoSmithKline plc Sponsored ADR Report

, up 0.5% to $54.18 following a significant jump earlier Friday morning.