Tuesday's Health Winners & Losers

Shares of heart-device developer Vasogen ( VSGN) jumped after the company announced positive clinical-trial data at a cardiology meeting.

According to data presented at the World Congress of Cardiology meeting in Barcelona, Spain, a trial involving 2,400 patients with chronic heart failure showed that the company's Celacade technology reduced the risk of death and cardiovascular hospitalization by 31%. Shares were up 19.7% to 68 cents.

Applied Biosystems ( ABI) was higher after the company reached a settlement with life-sciences company Promega resolving two legal disputes. Terms of the settlement were not disclosed. Shares were up 1.3% to $31.71.

Oscient Pharmaceuticals ( OSCI) sank after the company announced an agreement with Auxilium Pharmaceuticals ( AUXL) to conclude a marketing partnership for the testosterone gel Testim.

According to the agreement, Oscient and Auxilium will share profits from sales through Aug. 31. Auxilium will pay Oscient $1.8 million in compensation for Oscient's salesforce efforts. Oscient fell 7.5% to $1.11, while Auxilium dipped 0.6% to $8.60.

German drug giant Bayer ( BAY) slipped 1.2% to $48.92 after the company announced the expansion of the Shanghai production facilities at its chemicals subsidiary. The facilities will produce polycarbonate and polyurethane.

SkyePharma ( SKYE) declined despite an announcement Monday that the extended-release drug Requip delayed symptom recurrence in patients with Parkinson's disease. The extended release version of Requip, a GlaxoSmithKline ( GSK) drug, was developed by SkyePharma using its proprietary controlled-release technology. Shares fell 1.7% to $4.70.

Among other stocks on the move were Northfield Laboratories ( NFLD), whose shares dipped 1.3% to $10.58, Avalon Pharmaceuticals ( AVRX), down 1.4% to $2.82, and Sanofi-Aventis ( SNY), off 1.5% to $44.67.

Progenics Pharmaceuticals ( PGNX) rose 12.5% to $25.50, Nuvelo ( NUVO) was up 1.2% to $20.78, and Accentia Biopharmaceuticals ( ABPI) gained 2.6% to $3.09.

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