Updated from 2:13 p.m. EDTBiotech and pharmaceutical stocks generally tracked the climbing broader market indices Thursday, but among those bucking the trend was Sanofi-Aventis ( SNY), which was still smarting from a U.S. regulatory hit the day before. Advisers to the Food and Drug Administration recommended the agency
Also on the downside was QMed ( QMED), which lowered its 2007 revenue forecast to a range of $31 million to $33 million compared with the previous range of $38 million to $44.5 million. The single-analyst estimate from Thomson First Call anticipates revenue of $42.8 million. Shares of the Eatontown, N.J., health-care management systems provider were down 5 cents, or 1.6%, at $3.14. GeoPharma ( GORX) moved higher after announcing a deal to buy EZ-Med Technologies, a company that manufactures a patented soft-textured chew technology, for an undisclosed amount. GeoPharma's shares closed up 9 cents, or 2.2%, at $4. Among other winners Thursday were Genelabs Technologies ( GNLB), which climbed 13% after Oppenheimer initiated coverage of the biopharmaceutical company with a buy rating, and Oculus Innovative Sciences ( OCLS), which continued climbing a day after announcing a licensing deal for its first-response pen-like applicator for cuts, minor burns and skin irritations. Genelabs, of Redwood City, Calif., closed up 26 cents, at $2.26, and Petaluma, Calif.-based Oculus was up 47 cents, or 6.6%, at $7.63.