Health Care Sector Update for 07/03/2019: UMRX, MOR, GSK, RDHL, JNJ, PFE, ABT, MRK, AMGN

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Top Health Care Stocks:

JNJ: +0.17%

PFE: +0.36%

ABT: Flat

MRK: +0.29%

AMGN: Flat

Most health care majors were mixed in pre-bell trading Wednesday.

Early movers include:

(-) Unum Therapeutics ( UMRX ), which was slumping by more than 16% after the company said the US Food and Drug Administration placed a hold on its phase 1 trial of Unum’s ACTR087 in combination with rituximab to treat lymphoma after a patient in the study suffered an infection and respiratory distress.

(+) MorphoSys AG ( MOR ) was flat after GlaxoSmithKline ( GSK ) said it has commenced a phase 3 clinical development program with otilimab (formerly MOR103/GSK3196165) in rheumatoid arthritis. According to MorphoSys, dosing of the first patient will trigger a milestone payment of EUR22 million ($24 million).

(+) Redhill Biopharma ( RDHL ) was gaining more than 4% in value after reporting that that the US Food and Drug Administration (FDA) has accepted for review the New Drug Application (NDA) for Talicia (RHB-105)1 for H. pylori infection.

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