Updated from 3:07 p.m.
were among the worst-performing health-related stocks Wednesday, falling 17.8% after the company warned that fourth-quarter results would be well below year-ago levels.
The company now believes it will post a modest fourth-quarter profit or a small loss. Sales, meanwhile, are expected to be about $72 million. Analysts polled by Thomson First Call had been expecting a profit of 26 cents a share on sales of $94.5 million. KV blamed the shortfall on delayed approvals for certain generic products, increased headcount related to Ther-Rx sales, a temporary interruption in the supply of the company's PrimaCare One product, lower volumes and price erosion relative to certain generic/nonbranded products, and the timing of certain trade show orders. Shares traded down $4.30 to $19.92.
rose 33.6% after the company said its system for delivering high-dose chemotherapy to specific organs and body regions received fast-track status from the Food and Drug Administration for use in treating metastatic melanoma in the liver with melphalan, an approved anticancer agent. Shares traded up 94 cents to $3.57.
rose 6% after the company posted first-quarter earnings that beat forecasts. The specialty pharmaceutical company earned $3.4 million, or 9 cents a share, on sales of $28.8 million. Analysts were expecting earnings of 7 cents a share on sales of $28.8 million. A year ago the company posted a loss of $2.4 million, or 7 cents a share, on sales of $19.9 million. Looking ahead, Salix forecast sales of $150 million to $1.55 million and earnings of at least 60 cents a share. Analysts are expecting earnings of 63 cents a share on sales of $144.7 million. Shares traded up 88 cents to $15.58.
rose 14.3% after the company posted first-quarter results that beat expectations. The company earned $3.2 million, or 12 cents a share, on sales of $49.7 million. Excluding items, the company would have earned 16 cents a share. Analysts were expecting earnings of 14 cents a share on sales of $48 million. A year ago the company earned $1.6 million, or 7 cents a share, on sales of $35.6 million. Shares traded up $4.08 to $32.65.
Other health care volume movers included
, up 52 cents to $7.42;
, up 18 cents to $27.65;
, up 39 cents to $61.42;
, up 52 cents to $6.49;
, down 38 cents to $33.50;
, unchanged at $13.40;
Johnson & Johnson
, up 22 cents to $67.95;
, up 10 cents to $20.39; and
, up 22 cents to $74.60.