Earnings regenerated a few health stocks on Tuesday, while others were anemic on various news.

Regeneration Technologies ( RTIX - Get Report) rose Tuesday after announcing earnings. Revenue was $22.9 million, compared with $18.3 million for the year-ago period. The company reported net income of $195,000, or 1 cent a share, compared with a loss of $1.6 million or 5 cents a share in the 2006 quarter. Earnings were in line with the expectations of analysts surveyed by Thomson Financial. Regeneration Technologies gained 85 cents, or 8.6%, to $10.72.

Similarly, Auxilium Pharmaceuticals ( AUXL) rose after reporting earnings. The company reported revenue of $23.3 million, vs. $16.5 million in the 2006 quarter. Auxilium lost $10 million, or 27 cents a share, in the quarter, compared with $11.7 million, or 40 cents a share, a year ago. Analysts, according to Thomson Financial, were looking for a loss of 30 cents a share. The stock added $1.36, or 8.4%, to $17.47.

Biopharmaceutical company ImmunoGen ( IMGN - Get Report) got a boost Tuesday after announcing that Genentech ( DNA) started a phase II clinical testing of trastuzumab-DMI (a combination of a Genentech antibody with a cell-killing agent from ImmunoGen). The deal triggers a $5 million milestone payment to ImmunoGen. Genentech is developing the trastuzumab-DMI for a possible breast cancer treatment.

ImmunoGen gained 28 cents, or 6.2%, to $4.77, while Genentech was down $1.83, or 2.4%, to $74.42.

On the falling end, Amgen ( AMGN) found itself trading lower, as analysts and investors reacted to new rules by the Centers for Medicare and Medicaid Services that deem treatment for patients with erythropoiesis stimulating agents (ESAs) unnecessary for patients with hemoglobin levels 10 grams per deciliter and higher. Analysts expect that it will affect the reimbursement and use of anemia drugs Epogen and Aranesp.

Amgen lost $2.45, or 4.4%, to $53.74. It's a component of the Amex pharmaceutical index, which was down 0.21, or 0.1%, to 334.72.

Also down Tuesday was CV Therapeutics ( CVTX), which gave up ground after postclose earnings Monday and a downgrade on Tuesday.

Excluding nonrecurring charges, CV Therapeutics reported a net loss for the quarter of $39 million, or 66 cents a share. Analysts surveyed by Thomson Financial had expected a loss of 91 cents a share. Sales of Ranexa, the company's angina drug, grew to $15.3 million. But an analyst at Needham & Co was expecting more. Needham downgraded the stock to hold from buy. CV Therapeutics fell 95 cents, or 8.8%, to $9.91.

Not a biotech but a health stock, Health Management Associates ( HMA) took a hit after shareholders were disillusioned with a second-quarter update. The stock sank $2.59, or 24.32%, to $8.06.