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By Val Brickates Kennedy, MarketWatch

BOSTON (MarketWatch) — Pharmasset Inc. led drug stocks north early Thursday, as shares of the biotech firm jumped on an analyst upgrade.

Shares of Princeton, N.J.-based Pharmasset added 7% in morning trading. Early Thursday, analysts at Noble Financial upgraded the stock to buy from hold.

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On Wednesday, Pharmasset

/quotes/comstock/15*!vrus VRUS
+3.83%

  announced that it began a key Phase II trial for its compound PSI-7977, a proposed treatment for chronic hepatitis C.

Shares of Dendreon Corp.

/quotes/comstock/15*!dndn DNDN
-0.73%

  gained 3%. Late Wednesday, Dendreon announced that the Center for Medicare and Medicaid Services recommended that the company’s prostate-cancer therapy Provenge be covered by the health-care reimbursement programs, a move that should help boost usage of the product.

Studies have shown that Provenge can help extend the lives of men with advanced prostate cancer for about four months, on average.

The product, which costs a reported $93,000 per course of treatment, was approved by U.S. regulators in 2010 after a protracted regulatory review.

The drug sector’s two key indexes also trended higher. The NYSE Arca Pharmaceutical Index

/quotes/comstock/10t!drg.x DRG
-1.02%

  inched up 0.3% to 309, while the NYSE Arca Biotechnology Index

/quotes/comstock/10t!btk.x BTK
+1.00%

  rose nominally to 1,365.

/quotes/comstock/15*!vrus

Add VRUS to portfolio

VRUS

Pharmasset Inc

$
108.06

+3.99
+3.83%

Volume: 309,102
April 21, 2011 4:00p

/quotes/comstock/15*!dndn

Add DNDN to portfolio

DNDN

Dendreon Corp

$
40.89

-0.30
-0.73%

Volume: 3.17M
April 21, 2011 4:00p

/quotes/comstock/10t!drg.x

Add DRG to portfolio

DRG

ARCA PHARM INDEX

319.74

-3.28
-1.02%

Volume: 0.00
April 21, 2011 5:58p

/quotes/comstock/10t!btk.x

Add BTK to portfolio

BTK

NYSARC BIOTECH

1,437.42

+14.28
+1.00%

Volume: 0.00
April 21, 2011 5:58p

Val Brickates Kennedy is a reporter for MarketWatch in Boston.

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Tags: Product Studies

MISSION VIEJO, Calif.–(BUSINESS WIRE)–FITT Highway Products, Inc. (OTCBB: FHWY) (the “Company”) has mitigated
nearly $1.9 million in debt during the calendar year 2010, including the
settlement of two significant lawsuits and the conversion of certain of
its convertible promissory notes.

Potential investors are requiring the Company to first compromise its
substantial debt at approximately $0.10 on the dollar before committing
to investing in its operations. FIT.T Energy Products Inc., the
Company’s non-affiliated operating partner, is in discussions with
several significant parties to help rollout the two-ounce energy shot
named “FITT Energy With Resveratrol” to the retail market while
leveraging joint marketing and branding.

Resveratrol is a natural substance found in the skin of red grapes and
is thought to promote weight loss and slow the aging process. The two
key amino acids are believed to provide benefits for muscle strength and
provide cardiovascular vasodilation. For further information about the
benefits of Resveratrol, please see the product studies on the National
Institutes of Health website at http://www.nih.gov/.

The two-ounce energy shot contains some exciting advantages:

• Doctor developed formula
• Incorporates L-Arginine, AKG Arginine (Amino Acids), Caffeine and
  Resveratrol for energy
• Promoted by Warren Moon, NFL Hall of Fame Quarterback

A 60-second television commercial for the product may be viewed at www.throwafitt.com.
FITT Energy Products, Inc. expects to begin marketing a new label
design of “FITT Energy With Resveratrol” during the latter part of
the second quarter of 2011. The product is will also be endorsed by
several high-profile athletes and well-recognized doctors.

About FITT Highway Products, Inc.

FITT Highway Products, Inc. is a brand management Company which is in
the process of mitigating its debt in order to effectively pursue its
business plan. The Company has entered into an Operating Agreement with
FITT Energy Products Inc. to perform a majority of its operating
services, including among other things, selling, marketing, producing
and distributing the “FITT Energy Shot With Resveratrol”. FITT
Energy Products Inc. will pay the Company a royalty of $.05 for every
energy shot sold.

This document contains “forward-looking statements” related to future
events. Forward-looking statements often address our expected
future business and financial performance, and often contain words such
as “expects,” “anticipates,” “intends,” plans,” “believes,” “seeks,” or
“will.” Forward-looking statements by their nature address
matters that are uncertain. Particular uncertainties which could
adversely or positively affect our future results include: consumer
tastes, availability of production, liquidity, general economic
conditions, and the activities of competitors. These
uncertainties may cause our actual future results to be materially
different than those expressed in our forward-looking statements. We
do not undertake to update our forward-looking statements.

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Tags: Product Studies