Both the

Dow Jones Industrial Average

and the Amex Pharmaceutical Index were on the rise as component

Merck

(MRK) - Get Report

lifted its profit forecast for full year by 20 cents.

The drugmaker's outlook took some of the sting out of word that an advisory panel to U.S. regulators voted to recommend Merck's pain drug Arcoxia be denied approval. Merck was surging by $3.68, or 7.9%, to $50.04.

Shares of

Amylin Pharmaceuticals

( AMLN), the maker of the diabetes drugs Symlin and Byetta, were also higher after Lazard Capital upgraded the company to hold from sell.

The firm said the impact of Merck's diabetes drug Januvia should fade over the next six to nine months. Amylin was recently up 81 cents, or 2.1%, to $39.76.

Other drugmakers were performing well.

Schering-Plough

( SGP) was adding 3%,

Bristol-Myers Squibb

(BMY) - Get Report

was up 2.4%, and

Pfizer

(PFE) - Get Report

was gaining nearly 1%.

Also among winners, biopharmaceutical company

Dyax

(DYAX)

said its DX-88 drug candidate tested well in a late-stage trial of patients suffering from the skin disease hereditary angioedema. Dyax was soaring $2.08, or 52%, to $6.08.

While the Amex Pharmaceutical Index was adding more than 2%, the Amex Biotechnology Index dipped 0.1% despite gains in

Amgen

(AMGN) - Get Report

and

PDL BioPharma

(PDLI) - Get Report

of 3.1% and 2.4%, respectively. Fellow component

Vertex Pharmaceuticals

(VRTX) - Get Report

was down 6.4%.

Meanwhile, medical-device makers were having a tough go of it.

Varian Medical Systems

(VAR) - Get Report

dropped more than 8% after the company lowered its second-quarter revenue outlook following Thursday's closing bell. Varian was losing $3.96 to $44.98.

Other device makers were struggling.

Boston Scientific

(BSX) - Get Report

was losing 1.6% to $15.11,

Zimmer Holdings

(ZMH)

was off 1.2% to $87.96, and

Medtronic

(MDT) - Get Report

slipped 0.4% to $50.78.