ELN, BIIB, CBRX are The Top Losers from Healthcare Stocks

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Elan Corporation, plc (ADR) (NYSE:ELN) plunges 21.43% or $1.38 to $5.06 on a volume of 10.52 million shares in early morning trade after Analysts were expecting Elan Corp. plc  to report earnings of $-0.13 for last quarter, but ELN beat expectations with actual earnings of $-0.06  which was 7 cents above the consensus estimate. Elan Corporation, plc is a neuroscience-based biotechnology company. Its principal research and development, manufacturing and marketing facilities are located in Ireland and the United States.

Biogen Idec Inc. (NASDAQ:BIIB) fell 6% or $2.83 to $44.40 on over 3.70 million shares after Biogen Idec was downgraded on Oct, 21, 2009 by analysts at BMO Capital Markets to Market Perform from Underperform. Biogen Idec Inc. is engaged in the development, manufacturing, and commercialization of therapies.

Columbia Laboratories Inc. (NASDAQ:CBRX) corrected 18.90% or $0.24 to $1.03 on over 787K shares after the company announced that it has priced a transaction to raise up to approximately $11,772,000 through the sale of up to approximately 10,900,000 shares of its common stock and warrants to purchase 5,450,000 shares of its common stock in a registered direct offering. The common stock and warrants will be sold in units, with each unit consisting of one share of common stock and a warrant to purchase 0.5 shares of common stock. Each unit will be sold at a negotiated price of $1.08 per unit. Net proceeds are expected to be up to approximately $10,709,000 after offering-related fees and expenses.

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