Forest Laboratories ( FRX) shares jumped $5.62, or 14.6%, to $44.02 after the company announced that a Federal district court rejected a patent challenge by Teva Pharmaceutical ( TEVA) on its antidepressant Lexapro. On Friday, Jefferies & Co. analyst David Windley upgraded the stock to buy from hold. Schering AG ( SHR) shares rose 52 cents to $116.53 after the company said it planned to collaborate with privately held Avid Radiopharmaceuticals to develop diagnostic-imaging agents used during scans to diagnose Alzheimer's disease. Shares of Milestone Scientific ( MSS) jumped 8.9% to $1.35. The company announced that the Food and Drug Administration approved the company's premarketing activities for its CompuFlo computer-controlled infusion pump. The Livingston, N.J., maker of anesthetic-delivery systems says it's seeking partnership opportunities in the anesthesia market and plans to initially target the $200 million-plus market for epidural injections used in childbirth and in patients with low back and leg pain. Tutogen Medical's ( TTG) shares were 6.6% higher to $4.99 Friday. After the close of trading Thursday, the surgical-products maker said its second-quarter sales were up 21% to $9.1 million thanks to its dental segment sales and improved performance at its European operations. The company also said gross margins rose to 55% in the second quarter, from 38% a year ago, which serves as "a strong indication that we are making significant progress toward our goal of consistent profitability." Shares of Micrus Endovascular ( MEND) rose following an announcement that certain shareholders will sell 1.27 million shares at $11.89 each. The company says it won't receive any proceeds from the sale by the stockholders, but if underwriters exercise a 30-day option to buy an additional 190,531 shares to cover overallotments, it will receive funds. Micrus said it would use the proceeds for general expenses, working capital, geographic expansion and potential future acquisitions. Shares were up 1.3% to $12.06.
Shares of Decode Genetics ( DCGN) sank 8.5% to $5.20 Friday after the company said it plans to raise $30 million through a common stock offering. The company says several new and existing institutional investors have agreed to buy a total of 6 million shares at $5 a share, to raise $27.8 million after expenses. The deal is expected to close on or around July 18, the company says. Shares of Merit Medical Systems ( MMSI) sank despite an announcement that the company received approval from European regulators to market its Impress catheter. The device is already approved in the U.S. Shares fell 3.1% to $12.88. Merck ( MRK) fell 1.4% to $36.43. According to a report in The Wall Street Journal, the company's share of new prescriptions of the cholesterol-lowering drug simvastatin, known by the Merck brand name Zocor, took a hit. Despite the company's price cuts on the drug, generic drugmakers took 49% of new prescriptions in the U.S. Other health stocks on the move Friday include Sunesis Pharmaceuticals ( SNSS), down 1% to $5.44; eye-drug developer InSite Vision ( ISV), down 5.6% to $1.35; SGX Pharmaceuticals ( SGXP), down 5.3% to $5.20; and Medtox Scientific ( MTOX), 5.4% lower, trading at $8.58. Tenet Healthcare's ( THC) shares fell 1.4% to $6.31; Vertex Pharmaceuticals' ( VRTX) shares fell 1.6% to $34.07; and Boston Scientific ( BSX) shares dipped 3 cents to $15.95. Among stocks moving higher, PainCare Holdings ( PRZ) was up 2.9% to $1.78; Antares Pharma ( AIS) rose 1.9% to $1.06; and Abbott Laboratories ( ABT) shares were up 5 cents to $44.04.