Health Care Sector Update for 04/20/2017: GILD,IMNP,SKLN

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Top Health Care Stocks

JNJ +0.49%

PFE +0.61%

MRK +0.99%

ABT +0.05%

AMGN +0.73%

Health care stocks have continued to add to their prior gains this afternoon, with the NYSE Health Care Index rising about 0.7% in value while shares of health care companies in the S&P 500 also were up almost 0.9% as a group.

In company news, Gilead Sciences ( GILD ) was holding on to a narrow gain late in Thursday trading after the biotech company this afternoon reported 96-week results from a pair of late-stage studies reinforcing its Vermidly drug candidate as a useful treatment option for chronic HBV infection.

Both of the Phase III trials showed continued advantages of Vemlidy treatment over another antiretroviral medicine between weeks 48 and 96 in patients with hepatitis B virus infections. After 96 weeks, Vemlidy and Viread produced virologic response rates of 90% and 91%, respectively.

The study also found a larger share of patients taking Vemlidy saw normalized ALT levels relative to patients taking Viread and the Vemlidy patients also demonstrated ongoing benefits at in bone and renal safety parameters.

GILD shares were up about 0.5% at $66.61 each, easing only slightly from a prior session high of $66.67 a share in recent trading.

In other sector news,

(+) IMNP, Signs letter of intent with Pint Pharma GmnH to commercialize Ceplene drug treatment for acute myeloid leukemia in Latin America. Pint also agrees to invest $4 mln in Immune Pharma's oncology division.

(-) MD, Reduces Q1 guidance, cutting projected EPS to around $0.75 from prior outlook expecting between $0.86 to $0.90 per share and trailing the $0.87 per share consensus call. Also sees revenue coming in around $836 mln compared with $840.49 mln analyst mean.

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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This article appears in: Investing , US Markets
Referenced Symbols: GILD , IMNP , SKLN

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