Updated from 2:36 p.m. EDT

Shares of

Hospira

(HSP)

were among the best-performing health-related stocks Thursday, rising 7% after the company posted first-quarter results that easily topped forecasts.

The maker of hospital equipment posted earnings of $77.2 million, or 49 cents a share, on sales of $662.7 million. Excluding one-time items, the company would have earned 55 cents a share. Analysts polled by Thomson First Call were expecting earnings of 38 cents a share on sales of $610.9 million. A year ago the company earned $65 million, or 42 cents a share, on sales of $621.2 million. Looking ahead, Hospira backed its 2005 adjusted earnings of $1.53 to $1.60 a share on sales of about $2.5 billion. Analysts are expecting earnings of $1.63 a share on sales of $2.53 billion. Shares traded up $2.33 to $35.53.

Mylan Laboratories

(MYL) - Get Report

fell 1.8% after the company posted mixed fourth-quarter results. The drugmaker earned $38.1 million, or 14 cents a share, on sales of $316.4 million. Excluding items, the company would have earned 19 cents a share. Analysts were expecting earnings of 17 cents a share on sales of $330.6 million. A year ago the company earned $74.9 million, or 27 cents a share, on sales of $333.4 million.

During the latest quarter, the company's branded segment posted sales of $57.5 million, down from $69.4 million a year ago. Unfavorable pricing on the company's Amnesteem product was responsible for most of the decline. Mylan's generic segment fell to $258.9 million from $264 million a year ago. Unfavorable pricing, along with price erosion, which was caused by increased competition, led to the year-over-year decline. Shares traded down 29 cents to $16.07.

Shares of

Cephalon

( CEPH) fell 1% after the company announced the discontinuation of its phase II/III trial of CEP-1347 in Parkinson's disease. The company said that an independent data monitoring committee, which just completed a planned review of the interim results, concluded that the drug would not provide evidence of a significant effect. The drug, which was being developed in collaboration with

H. Lundbeck

, showed no safety concerns, the company said. "While we are disappointed with results of the trial," Cephalon said, "our collaboration with Lundbeck will continue as a valuable part of our ongoing research program in neurodegenerative disorders." Shares traded down 44 cents to $45.13.

BioMarin Pharmaceutical

(BMRN) - Get Report

rose 8.1% after the company named Jean-Jacques Bienaime as its new chief executive, effective immediately. Bienaime, who will replace acting CEO Louis Drapeau, will also serve as a board member. Prior to joining BioMarin, Bienaime served as CEO at

Genencor International

. Shares traded up 52 cents to $6.98.

Other health care volume movers included

Elan

(ELN)

TheStreet Recommends

, up 37 cents to $7.79;

Pfizer

(PFE) - Get Report

, down 2 cents to $27.63;

Amgen

(AMGN) - Get Report

, up 38 cents to $61.80;

Merck

(MRK) - Get Report

, up 14 cents to $33.64;

Johnson & Johnson

(JNJ) - Get Report

, down 30 cents to $67.65;

Schering-Plough

( SGP), down 2 cents to $20.37;

Teva Pharmaceutical Industries

(TEVA) - Get Report

, up 23 cents to $32.43;

Genentech

( DNA), down $1.61 to $72.99; and

Vertex Pharmaceuticals

(VRTX) - Get Report

, down 1 cent to $13.39.