Health Care Sector Update for 01/15/2019: IRWD,KTOV,EW,BSX,ALNY

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Top Health Care Stocks

JNJ +0.62%

PFE +0.65%

ABT +2.91%

MRK +1.54%

AMGN +1.03%

Health care stocks still were outperforming most of the broader markets, including a more than 1.6% rise for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were up almost 1.6% as a group while the Nasdaq Biotechnology index was climbing over 1.7%.

Among health care stocks moving on news:

(+) Ironwood Pharmaceuticals ( IRWD ) shares rose nearly 10% at one point point during Tuesday trading after saying Chinese regulators have approved the marketing application for the company’s Linzess drug treatment for irritable bowel syndrome with constipation in adults. The company expects to begin active sales during the second half of 2019.

In other sector news:

(+) Kitov Pharmaceuticals Holdings ( KTOV ) soared more than 150% in late trade after the biopharmaceuticals company reported new findings supporting the anti-cancer effect of its NT219 drug candidate, showing a short exposure of cancer cells to NT219 was sufficient to trigger irreversible shutdown to cancer pathways.

(+) Edwards Lifesciences ( EW ) was 8.5% higher in late-afternoon trading after agreeing to a one-time, $180 million payment to Boston Scientific ( BSX ) to settle all outstanding patent litigation over cardiovascular medical devices between the companies. The settlement also lifts any injunctions now in place against either firm.

(-) Alnylam Pharmaceuticals ( ALNY ) was more than 3% lower in afternoon trade after the specialty drugmaker late Monday disclosed plans for a $200 million public offering of its common stock.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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