Pain drug developer Pozen ( POZN) moved almost 22% higher following an announcement that the company submitted additional data on its experimental migraine drug Trexima to regulators. Pozen and its Big Pharma partner GlaxoSmithKline ( GSK) met with the Food and Drug Administration, which previously said the drug was approvable pending additional safety data, and have announced plans to submit a full response to the agency during the fourth quarter. The FDA will have six months to review the response. Shares of Pozen were up $1.31 to $7.38. EPIX Pharmaceuticals ( EPIX) rose 10.8% to $4.74 following an announcement that Predix Pharmaceuticals, a company it's acquiring, signed an exclusive collaboration and licensing agreement with biotech giant Amgen ( AMGN) to develop drugs for autoimmune diseases. Amgen will develop and market the drugs, and Predix will receive an upfront payment of $20 million. If certain milestones are met, Predix may receive up to $287.5 million in additional payments. Predix could also receive significant royalties on future sales of the drugs and have the option to promote a product resulting from the collaboration. YM BioSciences ( YMI) gained 8.7% to $3.37 after the company said its CIMYM BioSciences unit licensed the development and marketing rights in Japan for its head and neck cancer treatment nimotuzumab to Daiichi Pharmaceutical, a subsidiary of Daiichi Sankyo. CIMYM will receive an initial payment of $14.5 million, plus milestone payments based on the supply of the drug and its sales performance. Nimotuzumab is already approved in India as a treatment for head and neck cancer, but Daiichi plans to develop the drug for the Japanese market for several other types of cancer as well. Shares of ImClone Systems ( IMCL) fell after a federal court denied its request to dismiss a patent infringement lawsuit brought by Repligen ( RGEN) and the Massachusetts Institute of Technology regarding the production of the cancer drug Erbitux. The stock fell 3.8% to $32.64. ImClone maintains that it doesn't infringe the patent. The case will now proceed to trial.
Boston Scientific ( BSX) and St. Jude Medical ( STJ) fell after the medical-device makers settled four patent lawsuits. The companies also entered an agreement to cross-license certain cardiac-rhythm management patents to help avoid future disputes. The sides plan to limit the amount of information they disclose regarding two other lawsuits, which are unresolved. Boston Scientific fell 2.2% to $17.12, and St. Jude lost 1.3% to $36.93. Other health stocks on the decline included Gilead Sciences ( GILD), down 2.2% to $61.13, IDM Pharma ( IDMI), whose shares sank 8.3% to $2.55, Lipid Sciences ( LIPD), off 6.5% to $1.30, Pharmos ( PARS), 8.9% lower to $1.85, Immunicon ( IMMC) down 6% to $4.05, and Inovio Biomedical ( INO), trading 3.2% lower at $2.07. Stocks moving higher included XTL Biopharmaceuticals ( XTLB), up 14.2% to $3.53, Hollis-Eden Pharmaceuticals ( HEPH), whose shares jumped 18.3% to $6.15, OraLabs Holding ( OLAB), trading 7.7% higher at $3.50, Regenerx Biopharmaceuticals ( RGN), up 8.4% to $1.94, and PainCare Holdings ( PRZ), adding 5.7% to $1.87.