Updated from 11:45 a.m. EDT
Health care and biotech stocks followed the broader market's upward trend Thursday, thanks to merger and acquisition talk coming out of
Shares of the company jumped 15.3% after it indicated the possibility of a sale of the company. MedImmune's board has already authorized management to field potential offers. The stock added $5.79 to $43.63.
The Amex Biotechnology Index, of which MedImmune is a component, climbed 2.5%. Fellow components
rose 2.9% and 3%, respectively.
Elsewhere, the Amex Pharmaceutical Index was 1.1% higher, thanks to gains of 1.6% in
, 2.3% in
and 0.9% in
On the losing side,
( DNA) fell 1.3%, even after the company reported a 43% rise in first-quarter results compared to the year-ago period. Adjusted earnings of 74 cents a share topped the Thomson First Call consensus. Still, shares were off $1.06 at $81.63.
, which jumped 13% Wednesday after its Xyotax drugs received "fast track" designation from the Food and Drug Administration, completely erased the previous session's gain.
rejected a bid from Cell Therapeutics, claiming that the price offered in January was inadequate. Cell Therapeutics shares lost 35 cents, or 19.1%, to $1.48.
Among other decliners,
slid 39 cents to $71.32.
( ADLR) was off 5 cents, or 1.4%, at $3.64.