Generex Biotechnology

(GNBT)

was sharply higher on word the company is scheduled to join the Russell Microcap Index later this month. The company's addition will take place when Russell Investment Group reconstitutes its family of U.S. indices on June 30, according to a preliminary membership list posted Friday.

"We believe that our inclusion in the Russell Microcap Index reflects the significant progress we have made in the past year in the development of drug delivery systems for the treatment and prevention of diabetes and avian influenza," the company said in a statement. Shares of Generex were gaining 27 cents, or 18.4%, to $1.74.

Dov Pharmaceutical's

( DOVP) shares continued to slump in the wake of last week's announcement that

Neurocrine Biosciences

(NBIX) - Get Report

could need to hold more trials before it can get approval in the U.S. for its insomnia drug Indiplon. Dov licenses Indiplon to Neurocrine. Shares of Dov were dropping 22 cents, or 9%, to $2.21 Monday.

Israel's

Teva Pharmaceutical Industries

(TEVA) - Get Report

said the Food and Drug Administration granted final approval for the company's abbreviated new drug application to market a generic version of

Merck's

(MRK) - Get Report

Proscar. Shipments will begin immediately. Teva has been awarded 180 days of marketing exclusivity.

Known generically as finasteride, the drug is prescribed for treating benign prostatic hyperplasia in men with enlarged prostates. The drug is meant to improve symptoms and to reduce the need for prostate surgery. Still, shares of Teva were lower, slipping 16 cents, or 0.5%, to $35.73.

Sinovac Biotech

(SVA) - Get Report

rose after reporting positive results from an early-stage trial of its experimental avian-flu vaccine. The preliminary results of the Panflu study showed the vaccine had the ability to provoke an immune response, with antibodies found in 78.3% of tested blood samples.

The purpose of the phase I test was to evaluate the vaccine's safety and immune response and to determine the appropriate dosage level for a phase II study. Shares of Sinovac, a Beijing-based biotech company, were up 18 cents, or 6.7%, to $2.88.