Updated from 2:07 p.m. EDT
were among the best-performing health and pharmaceutical stocks Friday after the company posted fourth-quarter earnings and sales that were better than expected.
The biopharmaceutical company posted a profit of 1 cent a share on sales of $9.3 million. Analysts polled by Thomson First Call had expected a loss of 10 cents a share on sales of $5.2 million. A year ago the company posted a loss of 17 cents a share on sales of $1.35 million. Shares of ImmunoGen traded up 28 cents, or 6.6%, to $4.53.
rose after it said that its surfaxin drug received orphan status from the European Commission. The drug, which is used to treat respiratory distress syndrome, can be marketed exclusively for 10 years, subject to revision after six years, following marketing approval. The Food and Drug Administration has already granted the drug orphan status. Shares of Discovery Laboratories traded up 73 cents, or 11.3%, to $7.20.
fell after the company posted second-quarter financial results that were weaker than expected and warned that third-quarter results would fall short of expectations. Excluding several items, the drug discovery company posted earnings of 19 cents a share, a penny below expectations, on sales of $42 million, which was below expectations of $46.5 million. Looking ahead, the company expects third-quarter earnings of 8 cents to 9 cents a share. Analysts had expected earnings of 22 cents a share. Shares of Albany Molecular traded down 40 cents, or 3.6%, to $10.60.
fell after it and the FDA warned that the company's colorectal cancer drug
Avastin could increase the risk of blood clots in the arteries. Genentech hopes the drug, which was approved by the FDA in February, gets approved for other treatments such as breast, lung, kidney and pancreatic cancers. Shares of Genentech traded down $2.88, or 6.1%, to $44.23.
Other health care volume movers included
, up $1.22 to $26.45;
, down 28 cents to $31.15;
Johnson & Johnson
, down 47 cents to $55.54;
, down 47 cents to $54.36; and
, down 18 cents to $17.86.