Healthcare Stocks are Biggest Gainers, Biggest Losers

Joel Anderson |

SONO, ZOLL, FUJIY, BPAX, AIS, ITMN, AMPE, YMI, female viagra, IQWiG, Germany, clinical trials, phase III, buyout, film, ultrasound, defibrillator, medicareHealthcare continued to be one of the most volatile areas on the market as the biggest gaining stocks and biggest losing stocks both came from the sector.

Healthcare is Up!

Hand-carried ultrasound system developer SonoSite, Inc. (SONO) and emergency medical device developer and maker ZOLL Medical Corporation (ZOLL) were among the biggest gainers on Wall Street today with both seeing share value spike over 25 percent. SonoSite saw shares jump on news that it was being acquired by FUJIFILM Holdings Corp. (FUJIY) for $753 million, a price of $54 a share for a 28-percent premium. The deal also includes SonoSite's debt which, when included, moves the total deal up to $995 million. The purchase represents part of FujiFilm into the biotechnology segment to continue finding a market for its photo paper as digital cameras increasing push the company out of the consumer market. Share were up over 27 percent as a result. ZOLL, meanwhile, jumped on news that Medicare had re-initiated coverage on the company's wearable defibrillator. Shares gapped up 36 percent before market open, the biggest intraday gain since November of 1998, before settling into gains just over 29 percent for the day. Sales of LifeVest, which is designed to be worn by patients at risk of sudden heart failure, have more than doubled to $111 million a year over the past two years.

Healthcare is Down!

The flip side of the same coin was much uglier than ZOLL and SonoSite's gains were pretty. Three companies lost more than 30 percent in value with BioSante Pharmaceuticals, Inc. (BPAX) dropping over 75 percent after a trial for their new LibiGel testosterone treatment, dubbed the "female Viagra," failed to outperform placebos in a clinical trial. LibiGel was designed to increase libido among women, but two Phase III clinical trials both showed that women treated with the gel did not garner significantly better results than a placebo. Antares Pharma Inc (AIS), the company that holds the patent on LibiGel, was also dinged in the day's action to the tune of a 30 percent sell-off. Also dropping 30 plus percent was InterMune, Inc. (ITMN) after the German  IQWiG, an organization similar to the American FDA, claimed that the benefits of InterMune's new pirfenidone drug didn't outweigh the damage it did to the gastrointestinal tract and skin. Also making significant declines in the sector were Ampio Pharmaceuticals, Inc. (AMPE), which was off almost 22 percent, and YM BioSciences Inc. (YMI), which dropped almost 10 percent.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


Symbol Name Price Change % Volume
AMPE Ampio Pharmaceuticals Inc. 0.74 -0.01 -0.74 123,862


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