Tuesday's Health Winners & Losers

Valeant restates.
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Johnson & Johnson's

(JNJ) - Get Report

shares sank 1.2% to $66.40 despite better-than-expected fourth-quarter earnings.

Excluding certain charges, the company earned 81 cents a share, 2 cents higher than analysts' estimates. Revenue reached $13.68 billion, up from $12.61 billion last year and in line with analysts' estimates.

However, the company said its acquisition of


(PFE) - Get Report

consumer health care group won't add to its earnings until 2009. Earnings per share in 2007 are expected to take a 12-cent hit, and 2008 earnings should be reduced by 3 cents, excluding certain items.

Shares of


(NVAX) - Get Report

gained 4.4% to $4.27 after the company reported additional data on its pandemic flu vaccine after the close of trading Monday.

Valeant Pharmaceuticals'


shares gained 3.2% to $17.66 after the company restated its third-quarter earnings to reflect stock option expense. Valeant and said it recorded a profit of $13.7 million, or 14 cents a share. The company lost $2.7 million, or 3 cents a share, in the third quarter a year ago.



gained 10.5% to $2.94 after the drugmaker said it named a new chief executive officer and chief financial officer. Former

Millennium Pharmaceuticals


executive vice president Kenneth Bate will serve as the company's CEO, and business consultant James Ham will be CFO.

Among other health stock winners Tuesday were



, up 1.9% to $57.20;

Caraco Pharmaceutical


, gaining 2.1% to $13.18;

Noven Pharmaceuticals

(NOVN) - Get Report

, rising 2.7% to $26.33; and

Neurocrine Biosciences

(NBIX) - Get Report

, jumping 6.7% to $13.82.

Among the losers were Pfizer, whose shares fell 2.5% to $26.27;



, off 1.1% to $87.91;


(AMGN) - Get Report

, down 1.4% to $74.80;

Biogen Idec

(BIIB) - Get Report

, 1.9% lower to $49.24; and

ImClone Systems


, sinking 3.7% to $28.07.