Healthcare Stocks Trimming Today's Advance; Covance Authorizes $100-Mln Stock Buyback Program

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Top Healthcare Stocks

JNJ +0.35%

PFE -0.94%

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MRK +1.02%

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Healthcare stocks were higher today with the NYSE Healthcare Sector Index gaining around 0.3% and shares of healthcare companies in the S&P 500 up more than 0.6% as a group.

In company news, Covance Inc ( CVD ) was up more than 2% in late trade today and the drug-development service company late yesterday authorizing a share repurchase program for up to $100 million of its stock.

The stocks purchases will include open market purchases as well as privately negotiated transactions and block trades plus buyback of shares previous owned by CVD executives and directors through 10b5-1 plans.

In other sector news,

(+) JAZZ, Buys Gentium SpA ( GENT ) for $1 bln, acquiring the Italian biotech's Defitelio medication, the first drug approved in Europe to treat blocked veins in the liver caused by cancer therapies given prior to stem cell transplants. GENT is up 2.6%.

(-) NAVB, Said the European Medicines Agency will continue its assessment of the company's application for marketing authorization for its Lymphoseek injection used in lymphatic mapping procedures in patients with head and neck cancer.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: CVD , GENT

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