BioMarin Pharmaceutical's ( BMRN) shares rose after Baird Research upgraded the stock to outperform from neutral with a price target of $18. The stock gained 8.6% to $15.45.

Isolagen ( ILE) advanced after coverage of the stock was initiated by research firm Merriman Curhan Ford with a buy rating. Shares were up 2.6% to $3.54.

Adams Respiratory Therapeutics ( ARXT) fell 3.9% to $35.16 after the company said it's suing Mutual Pharmaceuticals and United Research Laboratories for patent infringement.

Genzyme ( GENZ) received European regulatory approval for its joint pain drug Synvisc for treating osteoarthritis of the ankle and shoulder. The new approvals were based on two European trials studying patients who received one or two injections of the drug. Shares dipped 1.1% to $66.71.

Genentech ( DNA) and Biogen Idec ( BIIB) received two new regulatory approvals covering the blood cancer drug Rituxan.

The Food and Drug Administration cleared Rituxan to treat CD20-positive, B-cell non-Hodgkin's lymphoma in patients who haven't received any prior treatments for the disease, in combination with a chemotherapy regimen consisting of cyclophosphamide, vincristine and prednisolone. The drug may also be used to treat patients with low-grade non-Hodgkin's lymphoma whose disease has responded or stabilized after treatment with the chemo. Genentech rose 1.2% to $83.72, while Biogen fell 1% to $44.24.

Accentia Biopharmaceuticals ( ABPI) and a group of its investors have signed a definitive four-year agreement for $25 million in exchangeable convertible debenture financing. Accentia's shares added 0.8% to $2.60.

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