Medivation's

( MDV) shares rose 34% to $8.11 after the company announced positive results from a clinical trial of its proposed Alzheimer's disease drug.

Hospira

(HSP)

was higher after it agreed to acquire Australian injectable-drug maker

Mayne Pharma

in a deal worth $2 billion, a 32% premium to Mayne's closing price on Sept. 18. Hospira shares were up 3.6% to $38.91.

Shares of

Auxilium Pharmaceuticals

(AUXL)

sank after a downgrade from research firm Merriman Curhan Ford to neutral from buy and a rating cut by Roth Capital to hold from buy. Shares fell 2.1% to $11.05.

Several generics companies took a hit, with

Teva Pharmaceutical

(TEVA) - Get Report

down 3.4% to $33,

Par Pharmaceutical

( PRX), 2.4% lower to $19.24,

Mylan Laboratories

(MYL) - Get Report

, off 2% to $20.15, and

Barr Pharmaceuticals

( BRL), 1.1% lower to $51.94.

Other movers were

Schering-Plough

( SGP), down 1.2% to $21.22,

Incyte

(INCY) - Get Report

, whose shares sank 11.5% to $4.39,

Critical Therapeutics

(CRTX) - Get Report

, 5.9% lower to $2.40, and

Immucor

( BLUD), down 2.7% to $22.39.

Eli Lilly

(LLY) - Get Report

rose 28 cents to $56.03,

Dynavax Technologies

(DVAX) - Get Report

was up 2% to $4.59,

Allos Therapeutics

( ALTH) gained 3% to $3.78,

Neogen

(NEOG) - Get Report

was 3.5% higher to $19.68, and

Matrixx Initiatives

( MTXX) was up 1.7% to $16.44.