Monday's Health Winners & Losers

Alnylam soars on news of an R&D deal with Roche.
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(ALNY) - Get Report

flew high Monday, while other health stocks gained and gave slightly on share shuffling and ratings changes.

Biopharmaceutical company Alnylam rose $7.77, or 51%, to $22.97 by early afternoon,

after announcing a deal to collaborate on its RNAi technology with


. RNAi is a method of turning off genes, or gene silencing, which has the potential to prevent disease-causing proteins from being made. Roche is paying $331 million in upfront payments and equity investments in a deal the two sides said could eventually be worth more than $1 billion.


(BCRX) - Get Report

was up 52 cents, or 6.7%, to $8.34 after the biotechnology company reached an agreement with the U.S. Food and Drug Administration for its pivotal clinical trial for the oral cancer drug Fodosine. The drug treats patients with cutaneous T-cell lymphoma.

Johnson & Johnson

(JNJ) - Get Report

also was among the winners after it said Monday that it will repurchase up to $10 billion of its common stock. The buyback has no time limit and the company said it may suspend or discontinue it at any time. Johnson & Johnson will finance the repurchase with a combination of available cash and debt.

The company, which had nearly 2.89 billion shares outstanding on April 29, didn't say at what price it would buy the shares, but did say it will discuss the buyback in a second-quarter earnings conference call on July 17. The company gained 57 cents, or 0.9%, to $62.70 on Monday.

Isis Pharmaceuticals


benefited from a ratings change. Needham & Co. upgraded the company to strong buy from buy. Isis captured $1.62 cents, or 16%, to $11.69.

On the losing side, biopharmaceutical company



said Monday that it plans to offer 9.5 million shares of common stock, and will grant its underwriters a 30-day option to buy up to 1.4 million at the same price to cover any overallotments. The company didn't set a price for the shares. Dyax's stock lost 37 cents, or 8.8%, to $3.82.

Health care information technology company



was also in the red. Jeffries and Co. downgraded the stock to hold from buy. It fell 42 cents, or 4.4%, to $9.13.

Alnylam, BioCryst, Dyax and Isis are components of the


Biotechnology index, which was up 2.67, or 0.33, to 815.30 on Monday.