Shares of Memory Pharmaceuticals ( MEMY) were among the best-performing health-related stocks Monday, rising 8% after the company announced a collaboration and license agreement with Amgen ( AMGN).

As part of the deal, Memory will receive an upfront payment of $5 million. The company could also receive milestone payments that are tied to the successful achievement of research, development and sales for compounds that progress under the collaboration to develop PDE10 inhibitors for central nervous system disorders. Memory will also be eligible to receive royalties that are tied to sales targets. During the next two years, the company could also receive research funding of $5.1 million. Shares of Memory Pharmaceuticals were trading up 23 cents to $2.94.

Gen-Probe ( GPRO) fell 8% after the company said the Food and Drug Administration would have additional questions about its Procleix Ultrio assay. Gen-Probe, which was notified verbally, said it expects to receive a complete review letter by Oct. 31. Based on the time it could take Gen-Probe to respond to the letter -- and the amount of time that it could take the FDA to respond to the company's answers -- the company believes approval for the assay could be delayed into 2006. Gen-Probe had been expecting approval by the end of the year for the assay, which is used for commercial blood screening. Shares were trading down $3.31 to $39.19.

Shares of Alpharma ( ALO) rose 5% after the company said it would sell its worldwide generics business to Actavis Group for $810 million in cash. The deal, which should close during the fourth quarter, is expected to be accretive to Alpharma's 2006 earnings results. Alpharma is retaining ownership of its branded pharmaceuticals, active pharmaceutical ingredients, animal health businesses and its ParMed Pharmaceuticals unit. The retained businesses generated 41% of Alpharma's total sales during the first six months of 2005 and 64% of total operating income before taxes and expenses. Alpharma plans to use proceeds from the sale to pay down debt and invest in the company. Shares were trading up $1.11 to $25.68.

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