Health Care Sector Update for 12/14/2018: JNJ, KANG, AXON, PFE, ABT, MRK, AMGN

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Top Health Care Stocks:

JNJ: -9.38%

PFE: -2.02%

ABT: -1.51%

MRK: -2.19%

AMGN: -2.47%

Health care stocks were sinking in early Friday afternoon trading, including a 2.8% decline for the NYSE Health Care Index. Also, shares of health care companies in the S&P 500 were down 3% as a group, while the Nasdaq Biotechnology index was down 1.3% recently.

Stocks moving on news include:

(-) Johnson & Johnson ( JNJ ) was down 9% after Reuters reported that the company didn’t disclose to regulators or the public that the its talc and finished powders tested positive for small amounts of asbestos from at least 1971 to the early 2000s.

In other sector news:

(+) iKang Healthcare Group ( KANG ) was up 11% after it announced a third amendment on its merger agreement with IK Healthcare Investment.

(-) Axovant Sciences Ltd ( AXON ) was 4% lower after it commenced an underwritten public offering of its common shares.

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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