Healthcare Stocks Edging Higher in Late Trade; Osiris More Than Doubles in Price After Diabetes Drug Success

By
A A A

Top Healthcare Stocks

JNJ +1.35%

PFE +0.24%

ABT +0.06%

MRK +0.02%

AMGN +0.13%

Healthcare stocks are higher with the NYSE Healthcare Sector Index rising 0.5% and shares of healthcare companies in the S&P 500 adding 03% as a group.

In company news, Osiris Therapeutics ( OSIR ) has more than doubled in price today, currently rising nearly 129% at $24.40 a share after earlier rising to a new 52-week high of $24.75 after saying its Grafix drug candidate performed well beyond expectations in clinical testing with diabetic patients.

According to the company, 62% of patients receiving Grafix in the randomized, multi-center study had complete closure of their foot ulcers often associated with diabetes compared with only 21% of the patients treated with standardized care.

During the crossover phase of the trial, patients whose wounds failed to close after 12 weeks of standard care had an 80% closure rate when switched to Grafix, which contains living mesenchymal stem cells applied directly to wounds.

In other sector news,

(+) AVNR, Enters exclusive, multi-year deal with Merck ( MRK ) to co-promote MRK's type 2 diabetes therapies. The package is worth up to $60 mln over the next three years, AVNR said.

(-) MDCO, Discloses plans to sell up to 5.5 mln shares of its common stock through an underwritten public offering of stock.



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

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: MRK , OSIR

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

100%
100%

Most Active by Volume

111,864,163
  • $3.91 ▲ 2.36%
76,404,746
  • $7.37 ▼ 5.03%
66,680,057
  • $15.25 ▼ 2.12%
61,293,760
  • $30.55 ▼ 6.09%
56,394,825
    $23 unch
55,005,642
  • $95.60 ▼ 2.60%
47,372,853
  • $95.02 ▼ 2.02%
44,783,481
  • $45.19 ▼ 2.40%
As of 7/31/2014, 04:07 PM