rose after the Irvine, Calif., company said a U.S. District Court issued a temporary restraining order against Apotex and two other defendants, barring them from making or selling a generic version of Acular, an anti-inflammatory eye drug. Shares of Allergan rose 3.2% recently to $112.63.
were climbing after the Franklin, Tenn., company, which provides behavioral health-care services, said it was raising its 2006 guidance following the acquisition of two hospitals. Based on the completion of these two transactions, the company increased its profit outlook for this year to a range of $2.20 to $2.25 a share from the previous range of $2.10 to $2.15 a share. Psychiatric Solutions was gaining 7.2% to $62.50.
, a Richmond, Va., biotechnology company, saw its shares jump after it said it was working with the University of Rochester School of Medicine and the Muscular Dystrophy Association on a clinical study of an experimental muscular dystrophy treatment. The study will investigate the use of the iPlex injection for treating myotonic muscular dystrophy, the most common form of adult muscular dystrophy. The stock was lately up 11.7% to $2.38.
rose after the East Rutherford, N.J., company, which provides products and services to accelerate drug discovery, said it was discarding its acquisition plan and parting ways with its CEO John Leone, who joined in August 2004. The company said it tried to buy its way into specialty therapeutics, but gave up because of cost concerns. Cambrex was up 7.7% to $20.22.
Protein Design Labs
signed a licensing pact with drug giant
, lifting the company's shares 6.4% to $30.25. The agreement provides Merck with nonexclusive licenses under certain Protein Design patents for antibodies developed by Merck against two antigens.