Health Care Sector Update for 11/29/2018: ALKS,EYPT,JAZZ

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Top Health Care Stocks

JNJ -0.38%

PFE +0.47%

ABT +0.16%

MRK +0.48%

AMGN -0.45%

Health care stocks were narrowly mixed in morning trading, including a less than 0.1% decline for shares of health care companies in the S&P 500.

Among health care stocks moving on news:

(+) Alkermes ( ALKS ) was fractionally higher after the biopharmaceutical company said its ALKS-3831 drug candidate to treat schizophrenia met both of its primary endpoints during Phase III testing. Patients treated with the drug demonstrated less weight gain when compared to patients treated with olanzapine, a drug with established efficacy but high incidence and magnitude of weight gain. ALKS 3831 also showed a lower mean percentage weight gain at six months as well as a lower proportion of patients who gained 10% or more at six months compared to the olanzapine group.

In other sector news:

(+) EyePoint Pharmaceuticals ( EYPT ) rose 2.4% Thursday morning after the specialty drugmaker disclosed plans in a regulatory filing to raise up to $75 million from time to time through a mixed shelf offering, which could include selling common or preferred stock as well as warrants to buy additional shares or debt securities.

(+) Jazz Pharmaceuticals ( JAZZ ) rose slightly after saying it has begun enrolling patients in a Phase III trial evaluating the efficacy and safety of its JZP-258 drug candidate for the treatment of the sleep disorder idiopathic hypersomnia. The drugmaker expects to eventually enroll around 140 adult patients for the multiple-center study in the US and EU.

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