Updated from 2:06 p.m. EDT
were among the best-performing health and pharmaceutical stocks Monday, rising 9.4% after the company's cancer drug received Food and Drug Administration marketing clearance.
The drugmaker said its paclitaxel drug is equivalent to Taxol,
injectable anticancer drug. SuperGen is currently in discussions with several U.S. multisource generic drug manufacturers specializing in oncology and hopes to have a marketing and distribution licensing agreement in place during the first half of 2005. Paclitaxel is indicated as a treatment for a variety of cancers, the company said. Shares traded up 55 cents to $6.43.
traded actively after the company said it would sell two series of senior notes worth $500 million. The two notes are being sold under an existing shelf registration. The medical device company plans to use the proceeds from the offering to repay debt and for general corporate purposes. Shares traded down 10 cents to $34.60 on volume of 7.6 million shares.
fell modestly after the company posted third-quarter financial results. The biotech company posted a loss of 3 cents a share on sales of $8.6 million. The company's sales results were in line with previously issued guidance. A year ago, the company posted a loss of 2 cents a share on sales of $9.1 million. Shares traded down 4 cents to $1.86.
fell 1.6% after the company said it would buy Israel's second-largest pharmaceutical company for about $818 million in stock and cash. Shareholders of
will receive about 21.9 million shares of Perrigo and $409 million in cash. The deal, which is expected to be accretive to Perrigo's earnings beginning in fiscal 2007, is scheduled to close during the second quarter of 2005. Shares of Perrigo traded down 29 cents to $18.36.
Other health care volume movers included
, up 17 cents to $27.62;
, up 64 cents to $27.09;
Johnson & Johnson
, up 16 cents to $61.16;
, down 5 cents to $59.92; and
, down 12 cents to $18.38.