Top Healthcare Stocks
AMGN +8.00%, earlier hit fresh 52 week highs
Healthcare stocks are higher today with the NYSE Healthcare
Sector Index gaining about 0.1% and shares of healthcare companies
in the S&P 500 adding 0.6% as a group.
In company news, Response Genetics, Inc (
) is up 33.8% at $2.52 a share, earlier climbing to a new 52-week
high of $2.93 a share amid news the maker of pharmacogenomic tests
is acquiring proprietary FDA-approved and Medicare-eligible cancer
diagnostic tests from Pathwork Diagnostics for $200,000 in cash and
500,000 share of its stock.
The deal also include Pathwork's diagnostic test for metastatic,
poorly differentiated and undifferentiated cancer.
RGDX expects the transaction will be accretive to earning within
its first full year of acquisition.
The tests use a proprietary microarray platform and software to
compare the expression of the 2,000 genes in a patient's tumor with
a panel of 15 known tumor types representing about 90% of all
cancers. It generated sales "in the mid-seven figures" for Pathwork
during 2012, the companies said.
In other sector news,
(+) ONXX, (+5.7%) Accepts $10.4-bln buyout from Amgen Inc (
), receiving $125 a share in cash and AMGN gaining control of
ONXX's cancer drug Kyprolis. AMGN shares are up 8% at $114 apiece,
having earlier hit fresh 52 week highs of $116.25.
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