Healthcare Stocks Join Broader Market Rally; Teva Pharma Teams With UK Body On Cancer Research

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Healthcare stocks are higher this afternoon with the NYSE Healthcare Sector Index gaining 0.7% and shares of healthcare companies in the S&P 500 rising almost 0.8% as a group.

In company news, Teva Pharmaceutical Industries Ltd. ( TEVA ) is down about 1% at $37.95 a share this afternoon after the drug-maker and Cancer Research Technology Ltd. - the technology development arm of Cancer Research UK - signed a multi-project alliance to research and develop cancer drugs that modulate DNA damage and repair response processes in cancer cells.

The alliance will span the drug discovery process and target validation to lead optimization and synthesizing compounds for further development as potential drugs.

In other sector news,

(+) OMER, Wedbush Securities raises its price target for the stock by $10 to $28 a share following positive Phase I data of the company's OMS824 drug candidate in patients with schizophrenia and Huntington's Disease.

(+) NBY, Said its Auriclosene irrigation system met primary endpoints in a Phase II trial measuring its ability to reduce urinary catheter blockage and encrustation.

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

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

This article appears in: Investing Commodities
Referenced Stocks: TEVA

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