Tomahawk, WI 2/25/2013 (BasicsMedia) –  Rainy days and Mondays always gets us down. So its not raining out here but these stocks are headed  down this morning.

Taking a huge hit this morning are shares of Affymax (AFFY) which are down 85%  after the biotech recalled its anemia drug due to safety concerns. When something like this happens someone else usually benefits as rival Amgen‘s (AMGN) stock set a new high water mark.

On Saturday, Affymax and its Japanese partner Takeda announced they’re pulling all lots of Omontys, a drug used in dialysis centers to treat anemia in patients with chronic kidney disease, after some patients died due to hypersensitivity reactions. The news was especially devastating to Affymax since Omontys is its sole marketed drug. The news shored up the leading positions of Amgen’s drugs Epogen and Aranesp, which together provide more than a quarter of Amgen’s revenue. In a Sunday note, RBC Capital Markets analyst Michael Yee wrote that the recall removes a competitor from the market and improves Amgen’s chances of retaining its relationship with dialysis giant Fresenius Medical (FMS) and also possibly signals heightened FDA scrutiny of other competitors coming onto the market, including cheaper biosimilars.

In other drug news Dynavax Technologies Corp. (DVAX) is down some 32% in during the morning session. The company’s stock fell by more than a third after the company said the Food and Drug Administration won’t approve its hepatitis B vaccine Heplisav unless Dynavax provides more information showing the drug is safe.

Dynavax said the FDA is concerned about the possibility of “rare autoimmune events” in patients. The company has asked the FDA to approve Heplisav, its most advanced drug, in patients aged 18 to 70, but the FDA prefers a narrower marketing approval. The agency also wants more information about the manufacturing and quality of Heplisav.

Following the same theme Peregrine Pharmaceuticals, Inc. (PPHM) is down over 12% today. This comes over recently released additional details regarding its revised analysis of bavituximab in non-small cell lung cancer. Today’s release comes less than a week after investors totally misinterpreted clinical data on the drug used in pancreatic cancer,

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