Health Winners & Losers: Elan - TheStreet

Health Winners & Losers: Elan

Elan slips despite a narrowed second-quarter loss and strong Tysabri sales.
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Earnings reports generated a great deal of stock moves in the health and biotech sectors Thursday.

First, on the losing side,

Elan

(ELN)

sank 3.6% to $32.34 despite reporting a narrowed second-quarter loss and a 30% rise in revenue. The Dublin-based drugmaker posted a net loss of $71.5 million, down from the $141.1 million loss it posted in the same quarter last year.

Revenue came in at $245.6 million, up from $188.5 million a year ago, in large part due to strong second-quarter sales of Tysabri. In-market net sales of the multiple sclerosis drug, a joint venture with

Biogen Idec

(BIIB) - Get Report

, increased by 177% to $200 million from $72.1 million in same period a year ago.

Also making a post-earnings move, albeit to the upside,

Celgene

(CELG) - Get Report

climbed 4% to $73.26. The biotech company reported a

better-than-expected earnings

and raised full-year guidance.

Invitrogen

(IVGN)

rose 2.1% to $42.89. The biotech and research kit company posted earnings of $53.2 million, or 55 cents a share, up from $40.9 million, or 31 cents a share, last year. On an adjusted basis, the company earned 68 cents a share, beating handily the Wall Street consensus estimate of 57 cents.

Bristol-Myers Squibb

(BMY) - Get Report

also rose on an

earnings beat

. The drugmaker posted adjusted earnings of 43 cents a share, up from 31 cents a share in 2007 and better than the 40 cents analysts were expecting. The stock climbed 1.5% to $22.12.

ImClone

(IMCL)

traded in choppy fashion after posting a drop in profit but nevertheless

hitting analyst targets

. The stock ended down 1.5% at $45.18.

The Amex biotechnology index edged up 0.6% to 837.78, while the Amex pharmaceutical index slipped 0.4% to 303.60.

This article was written by a staff member of TheStreet.com.