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Tuesday's Health Winners & Losers

Shares of Neurochem drop.
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Eli Lilly

(LLY) - Get Eli Lilly and Company (LLY) Report

said Tuesday that it will take control of selling the impotence drug Cialis by paying $2.1 billion for the Bothell, Wash., biotech company

Icos

(ICOS)

, its marketing partner for the treatment.

Lilly's takeover price of $32 a share represents an 18% premium over Icos' closing price Monday. After the announcement, Icos' stock jumped $4.53, or 16.7%, to $31.66, while Lilly slipped 30 cents to $57.36.

Merck

(MRK) - Get Merck & Co., Inc. (MRK) Report

said Tuesday it has received U.S. approval to begin selling Januvia, a new type of diabetes drug that's more versatile than existing blood-sugar control medications.

The Food and Drug Administration approved Januvia, a once-a-day tablet, as a single therapy or in combination with two different types of diabetes pills. Shares of Merck were down 7 cents at $43.69.

A bidding skirmish for

AnorMed

(ANOR)

has ended with the company agreeing to be acquired by

Genzyme

TheStreet Recommends

(GENZ)

.

Under the agreement, Genzyme will acquire AnorMed for $13.50 a share, or around $580 million. AnorMed made the announcement as

Millennium Pharmaceuticals

(MLNM)

said it wouldn't raise its offer for the company. Genzyme's stock was 0.5% lower to $68.28, and AnorMed's shares fell 3% to $13.38. Millennium rose 1.7% to $10.40.

Johnson & Johnson

(JNJ) - Get Johnson & Johnson (JNJ) Report

reported better-than-expected earnings and revenue in the third quarter, thanks to sales growth across a number of its segments. Overall, the company reported sales of $13.3 billion for the quarter, a gain of nearly 8% year over year. Earnings reached $2.8 billion, or 94 cents a share. Excluding charges, the company earned $2.9 billion, or 98 cents a share.

Analysts were expecting earnings of 93 cents a share on $13.1 billion in revenue. J&J was higher by 2.1% at $66.30.

Shares of

Neurochem

(NRMX)

sank 13.8% to $15.62 after the stock was downgraded to underperform from market-perform by Piper Jaffray analyst Caroline Stewart.

Among other health stocks falling were

Alkermes

(ALKS) - Get Alkermes Plc Report

, down 2.8% to $15.94,

IDM Pharma

(IDMI)

, sinking 7% to $2.65,

Elan

(ELN)

, 1.3% lower to $15.54, and

Biovail

(BVF)

, down 1.4% to $15.73.

Meanwhile,

Arena Pharmaceuticals'

(ARNA) - Get Arena Pharmaceuticals, Inc. Report

shares rose 2.8% to $16.02,

Nektar Therapeutics'

(NKTR) - Get Nektar Therapeutics Report

stock was up 2.3% to $15.48, shares of

Alfacell

(ACEL)

gained 18% to $1.48, and

Poniard Pharmaceuticals'

(PARDD)

shares were up more than 23% to $4.59.