Healthcare Stocks Edging Higher Near Close; Unilife Jumps Over 12% on Supply Pact With AstraZeneca


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Healthcare stocks are set to close moderately higher today with the NYSE Healthcare Sector Index gaining about 0.2% and shares of healthcare companies in the S&P 500 rising 0.1% as a group.

In company news, Unilife ( UNIS ) is up more than 12% at $2.94 after the maker of injectable drug-delivery devices Monday signed a supply agreement with AstraZeneca plc's ( AZN ) biologics unit.

Under the agreement, UNIS will supply the MedImmune unit with customized devices from its ReadyToGo group of wearable injectors with MedImmune expected to use the devices with several of its medications.

UNIS said its expects the deal to begin generating revenue starting in Q1 of 2014. Additional financial terms weren't disclosed. AZN shares are down nearly 1% in late afternoon trade.

In other sector news,

(+) VPHM, Agrees to $4.2 billion buyout from Shire plc ( SHPG ), with shareholders receiving $50 per share in cash. SHPG shares also are 0.3% higher.

(-) MDRX, Reports Q3 adjusted earnings of $0.05 per share, trailing analyst estimates by $0.03. Revenue declined 8.6% year over year to $330 million, missing the FactSet consensus call by $24.1

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This article appears in: Investing , Commodities
More Headlines for: AZN , SHPG , UNIS

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