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



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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.


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