Critical Therapeutics'

(CRTX) - Get Report

shares sank after the company reported disappointing clinical trial results on its anti-inflammatory drug for cardiac surgery patients. Shares fell 4.3% to $2.70.

King Pharmaceuticals

( KG) fell after disappointing trial data were released. According to a study presented in a meeting of the European Association for the Study of Diabetes and published in the

New England Journal of Medicine

, the incidence of type 2 diabetes development wasn't significantly different between patients taking the company's drug Ramipril compared with those taking a placebo. Shares were down 3% to $16.05.

Barrier Therapeutics

( BTRX) rose after the company said it's planning a private stock offering worth $25 million. The company plans to sell around 4.8 million shares at $5.25 each to institutional investors. Shares were trading 4.3% higher at $5.64.

Schering-Plough's

( SGP) shares advanced after a report that the company is "seriously considering" an attempt to merge with another drug giant,

Bristol-Myers Squibb

(BMY) - Get Report

. Schering was up 1.3% to $21.40, and Bristol's shares were up 1.6% to $25.08.

Genentech

( DNA) gained 1.5% to $79.29 after Caris initiated coverage of the stock with a strong buy rating.

Other movers were

Exact Sciences

(EXAS) - Get Report

, whose shares gained 14.8% to $2.80,

Novogen

(NVGN)

, up 7.9% to $10.53,

ViroPharma

(VPHM)

, ahead by 1.4% to $12.63, and

Marshall Edwards

( MSHL), 6.8% higher to $3.

GlaxoSmithKline

(GSK) - Get Report

slipped 0.5% to $55.11,

Senesco Technologies

(SNT)

was down 7.1% to $1.19,

Lannett

(LCI) - Get Report

was sinking 8.5% to $5.17,

NitroMed

( NTMD) was 5.3% lower to $2.48, and

Keryx Biopharmaceuticals

(KERX) - Get Report

was down 2.9% to $13.01.