Drug Stock Slides with Wider Market (ARNA, PFE, DNDN, MRK, BSX)

Drug stocks sank in afternoon trading on Friday as the broader market tumbled on deepening worries about the extent of the European debt crisis.

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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) slid 1.63% to $3.02 on 1.56 million shares. The company reported a first-quarter net loss of $31.3 million or $0.33 per share, compared to a loss of $50.6 million or $0.68 per share in the same quarter last year. Total revenues for the quarter declined to $2.51 million from $2.66 million in the comparable quarter last year.

Pfizer Inc. (NYSE:PFE) lost 0.84% to $16.60 on 41.85 million shares.

Dendreon Corporation (NASDAQ:DNDN) decreases 5.78% to $44.85 on 10.59 million shares.

Merck & Co., Inc. (NYSE:MRK) falls 1.25% to $33.84 on 8.70 million shares. The 52-week range of the stock is $30.70-$41.56.

Boston Scientific Corporation (NYSE:BSX) is down 1.06% to $6.52. 

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