Health Care Sector Update for 12/26/2018: IMMU,ABBV,NEOS,TEVA

Shutterstock photo

Top Health Care Stocks

JNJ, +0.84%

PFE, +2.34%

ABT, +4.01%

MRK, +2.29%

AMGN, +3.70%

Health care stocks were rising, including a more than 1.8% gain for the NYSE Health Care Index in recent trade. Also, shares of health care companies in the S&P 500 were up almost 2.4% as a group, while the Nasdaq Biotechnology index was climbing over 4.4%.

Among health care stocks moving on news:

(+) Immunomedics ( IMMU ) rose as much as 10% on Wednesday after the biopharmaceuticals company said it was expanding its long-term master supply agreement with Johnson Matthey, which will continue to ramp up production of its CL2A-SN-38 drug-linker that is a key component of Immunomedics’ sacituzumab govitecan treatment for metastatic triple-negative breast cancer. Financial terms were not immediately available.

In other sector news:

(+) AbbVie ( ABBV ) was more than 3% higher Wednesday after Standpoint Research began coverage of the drugmaker with a buy investment recommendation.

(-) Neos Therapeutics ( NEOS ) fell 4.4% Wednesday after the specialty drugmaker disclosed a confidential settlement and licensing agreement resolving all patent-related litigation with Teva Pharmaceutical Industries Ltd ( TEVA ) over the larger rival’s bid to make a generic version of Neos’ Cotempla XR-ODT extended-release orally disintegrating tablets.

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.