Monday's Health Winners & Losers

MGI Pharma surges on news of a buyout bid.
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On Monday, buyouts and weekend data hoisted a few biotech stocks well into the green -- but overall health indices lacked enthusiasm.

In the buyout arena,

Adams Respiratory Therapeutics

(ARXT)

added $15.43, or 35%, to $59.11, after announcing that it

agreed to be acquired by British company Reckitt Benckiser Group for $2.3 billion, or $60 a share, a 37.3% premium to the stock's Friday closing price.

Also, Japanese drugmaker Esai said it

would buy

MGI Pharma

(MOGN)

for $3.9 billion in cash, or $41 a share, to build on its cancer-drug business. The price is a 23% premium to MGI's Friday closing price of $33.45. MGI rose $6.47, or 19.3%, to $39.92.

Adams and MGI are both components of the Nasdaq biotechnology index, which was down 6.69, or 0.77%, to 866.94.

Novavax

(NVAX) - Get Report

gained ground after teaming up with

General Electric Company's

(GE) - Get Report

GE Healthcare unit to develop and market a pandemic-influenza vaccine. The companies said the goal of the collaboration is that any required vaccine could be produced within 12 weeks of identification of a pandemic strain, half the time taken by currently available processes. Novavax's VLP-based H5N1 pandemic-flu vaccine is currently in phase I/IIa clinical trials.

Novavax's shares edged up 14 cents, or 3.5%, to $4.09.

And last but not least, various companies presented data at the American Society of Hematology annual meeting over the weekend.

In a late-stage study,

Cephalon's

(CEPH)

Treanda

beat a currently used chemotherapy drug in helping patients with newly diagnosed chronic lymphocytic leukemia (CLL) reach remission. Cephalon shares were up 78 cents, or 1%, to 77.32 on Monday.

Celgene

(CELG) - Get Report

presented positive data on multiple myeloma drug Revlimid, but shares were battered Monday as investors mulled

competitive concerns.

Another company with multiple myeloma data,

Millennium Pharma

(MLNM)

discussed positive results of one late-stage study and interim data of another that support the ability of its Velcade to compete in previously untreated multiple myeloma, an indication it could get approval for in 2008.