Health Care Sector Update for 12/12/2014: JAZZ,CCXI,EPRS

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Top Health Care Stocks

JNJ -1.22%

PFE -1.72%

ABT -0.34%

MRK -1.61%

AMGN +0.37%

Health care stocks were broadly lower, with the NYSE Health Care Sector Index declining about 1.1% and shares of health care companies in the S&P 500 slipping about 0.8% as a group.

In company news, Jazz Pharmaceuticals ( JAZZ ) fell Friday despite the drugmaker's saying it has initiated a rolling submission of a new drug application with U.S. regulators for its defibrotide drug candidate as a treatment of severe hepatic veno-occlusive disease in patients undergoing hematopoietic stem-cell transplantation therapy.

The U.S. Food and Drug Administration previously gave fast-track designation to defibrotide to treat severe VOD.

The company said it expects to complete the new drug application for defibrotide by mid-year, at which time it anticipates requesting a priority review by the FDA. JAZZ in July acquired commercialization rights for the drug in the United States and the rest of North and South America. It also markets defibrotide in Europe as Defitelio.

JAZZ shares were down more than 3% at $167.52 apiece this afternoon, trading underwater throughout the session and recently falling to a session low of $166.01 a share. The stock has traded within a 52-week range of $108.58 to $183.84 a share, rising more than 54% over the past 12 months prior to Friday's slide.

In other sector news,

(+) CCXI, (+54.3%) Announces positive top-line data from Phase II testing of CCX140, with the experimental drug meeting primary endpoint of reducing urinary albumin creatinine ratio in patients with diabetic nephropathy.

(-) EPRS, (-5.3%) Files application with securities regulators in British Columbia for the company's stock to cease trading in the Canadian markets.

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 , Commodities
Referenced Symbols: JAZZ

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