Health Care Sector Update for 12/12/2018: NBIX, TLGT, ADAP

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Top Health Care Stocks

JNJ, +1.1%

PFE, +0.8%

MRK, +1.4%

ABT, +1.4%

AMGN, +0.4%

Health care stocks were higher Wednesday afternoon, with the NYSE Health Care Index rising 1.5% while shares of health care companies in the S&P 500 were up nearly 1.3% as a group.

In company news, Neurocrine Biosciences ( NBIX ) fell nearly 15% after it said topline data from a study demonstrated that valbenazine did not meet the primary endpoint in a study in children and adolescents with moderate to severe Tourette syndrome. The types of treatment-emergent adverse events observed in the phase 2b trial were consistent with those seen in other valbenazine studies according to a statement. The company said it continues to focus on developing treatments for neurological and endocrine-related disorders.

In other sector news,

(+) Teligent ( TLGT ) Filed a revised and restated set of results for the three months ended June 30, correcting certain accounting errors management believes were “immaterial on an individual and aggregate basis.”

(-) Adaptimmune Therapeutics ( ADAP ) Chief Technology Officer Gwen Binder will be leaving at the end of January as the company “moves into a more clinically focused stage.”

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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