Top Healthcare Stocks
Healthcare stocks are mostly higher, with the NYSE Healthcare
Sector Index gaining 1.1% and shares of healthcare companies in the
S&P 500 rising 1.0% as a group.
In company news, Amgen (
) advanced nearly 2% Monday after saying its prospective
cholesterol drug reduced so-called bad cholesterol by as much as
76% during late-stage testing.
According to the company, evolocumab significantly reduced LDL
cholesterol in patients intolerant to more common anti-cholesterol
medications as well as in patients using statins.
One of the Phase III trials found a 37% to 39% drop in
low-density lipoprotein cholesterol in the statin-resistant group
compared to a placebo. Used together with a statin, the study found
cholesterol levels fell between 55% to 76% in patients receiving
evolocumab compared to the control group, AMGN said.
AMGN shares were ahead 2.2% at $123.19 in mid-day trading,
earlier climbing to a session high of $124.53 a share. The stock
has a 52-week range of $94.15 to $128.96 a share.
In other sector news,
(+) BIIB, (+3.4%) U.S, regulators approve the company's Alprolix
hemophilia B drug.
(-) MNKD, (-14.7%) Piper Jaffray downgrades to Underweight from
Neutral ahead of the company's April 1 meeting with the Food and
Drug Administration on its Afrezza diabetes drug. Price target cut
to $1.50 from $5 a share.
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