Health Care Sector Update for 12/06/2018: RSLS,APHA,CGC

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Top Health Care Stocks

JNJ -1.98%

PFE -2.08%

ABT -1.54%

MRK -0.96%

AMGN -0.66%

Health care stocks were lower this afternoon, including a 2.4% decline for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 also were down 2% as a group. The Nasdaq Biotechnology index was little changed.

Among health care stocks moving on news:

(+) ReShape Lifesciences ( RSLS ) was about 2% higher after the medical device manufacturer said it was further expanding its weight loss business in the Middle East after receiving a large order from its distributor in Saudi Arabia.

In other sector news:

(+) Aphria ( APHA ) rose 3%, recovering from earlier losses, after the Canadian medical cannabis company appointed a special committee of independent directors to review the company’s acquisition of LATAM Holdings and confirm its belief that it conformed with policies and corporate governance practices. The deal was subject to short-seller criticism earlier this week.

(-) Canopy Growth Corp ( CGC ) was 4.5% lower as it finalized an all-cash transaction to acquire Storz & Bickel GmbH & Co. KG and its related entities and intellectual property for EUR145 million.

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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