Health Care Sector Update for 02/04/2019: ABMD,OMCL,BLRX,ABBV,BLK
Top Health Care Stocks
Health care stocks trimmed some of their prior declines Monday, including a nearly 0.4% decline for the NYSE Health Care Index in afternoon trade. Shares of health care companies in the S&P 500 also were down over 0.6% as a group while the Nasdaq Biotechnology index was down nearly 0.4%.
Among health care stocks moving on news:
(-) Abiomed ( ABMD ) declined over 7% after the US Food and Drug Administration Monday issued a letter warning health care providers it was evaluating new data suggesting a higher mortality rate for certain patients who received the company’s Impella RP heart-assist pump implant compared with prior studies. But the agency also said while it was concerned by interim results from the post-approval study, it still believes the benefits of the heart-assist implant outweight the potential risk for patients experiencing severe heart problems.
In other sector news:
(+) BioLineRx ( BLRX ) soared as much as 21% on Monday after its BL-8040 lead oncology candidate to treat pancreatic cancer was designated as an Orphan Drug by the FDA.
(+) Omnicell ( OMCL ) was 3% higher on Monday after its automated drug dispensing device won a Best in KLAS award for the 13th year in a row from independent health care research firm KLAS based on ratings by industry professionals.
(-) AbbVie ( ABBV ) dropped over 3% on Monday after a new regulatory filing showed Blackrock ( BLK ) recently sold over 5.5 million shares of the drugmaker’s stock, paring its passive stake to nearly 95.8 million AbbVie shares, or about 6.4% of its outstanding 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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