Health Care Sector Update for 12/19/2018: GSK,PFE,FGEN,SURF

Shutterstock photo

Top Health Care Stocks

JNJ, -1.65%

PFE, +0.84%

ABT, +1.08%

MRK, +0.81%

AMGN +1.56%

Health care stocks were mostly higher, including a more than 0.7% gain for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were up 0.7% as a group, while the Nasdaq Biotechnology index was ahead almost 1%.

Among health care stocks moving on news:

(+) GlaxoSmithKline ( GSK ) was almost 3% higher in recent trading after the pharmaceuticals giant disclosed plans to combine its consumer health business with Pfizer’s ( PFE ) consumer products subsidiary through a 68%/32% joint venture with combined sales of about $12.7 billion.

In other sector news:

(+) FibroGen ( FGEN ) climbed 6% on Wednesday after Citigroup raised its investment recommendation on the shares to buy from neutal and also set a $71 price target on the company’s stock.

(-) Surface Oncology ( SURF ) plunged over 41% to a worst-ever $4.36 a share after Wednesday saying it was significantly scaling back its SRF231 clinical program after experiencing two hematologic dose-limiting toxicities with the prospective cancer treatment at much lower dose than expected.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

Zeen is a next generation WordPress theme. It’s powerful, beautifully designed and comes with everything you need to engage your visitors and increase conversions.

Wealth Empire Newsletter
Register now for free updates and alerts

Subscribe By

Note: I have the ability to revoke this permission at any time and ask for the removal of my personal data collected by contacting us or simply clicking Unsubscribe.