Updated from 1:05 p.m. EST with new stock pricesThe second day of the week didn't hold as many surprises as the first for the health sector, but biotech and pharma stocks with scattered news were still on the move--and in a generally upward direction. First, Isis Pharma ( ISIS)was still on the uptick Tuesday after announcing Monday post-close
Shares added $1.53, or 2.8%, to $56.11 on Tuesday. Elsewhere, King Pharmaceuticals ( KG) said Tuesday in a filing with the Securities and Exchange Commission that it has terminated its patent infringement lawsuit against CorePharma over the muscle relaxant Skelaxin. CorePharma's counter claims have also been ended. The companies signed a license agreement on January 2 that gave CorePharma certain rights to metaxalone 800 mg. King's shares were trading up $1.69, or 16.3% on Tuesday. Amgen, Eli Lilly and King Pharmaceuticals are all components of the Amex pharmaceutical index, which was up 6.95, or 2%, to 349.90. On the clinical side, Nastech Pharmaceutical ( NSTK) said Tuesday that it completed enrollment for a 551-patient midstage trial of its experimental nasal spray to treat obesity, PYY3-36. The study is designed to evaluate three different doses of the nasal spray compared with a placebo and sibutramine, a commercially available oral weight loss drug. Separately, the company said that the U.S. Patent and Trademark Office issued a notice of allowance for its patent with claims related to a method for identifying peptides that can bind to specific cell types. The company said the technology related to the patent provides a process to rapidly identifying peptides that target specific cells, which can be combined with therapeutics to enhance overall delivery. Shares were trading up 4 cents, or 1.1%, at $3.67.