Sector Update: Health Care Shares Seeing Some Gains; Merck Moves to Address Emerging Markets

By Staff,

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Dow Jones U.S. Health Care Index (DJUSHC) +0.98, (+0.28%), to 351.30

Health care stocks:

JNJ: +0.8%

PFE: +0.9%

ABT: +0.8%

MRK: -0.2%

AMGN: -0.1%

Health care shares are seeing mild support in mid-day trading while Merck & Co ( MRK ) makes a move to address emerging markets.

The Dow Jones U.S. Health Care Index is up 0.98, or 0.28%, to 351.30.

In mid-day news, Merck and Mumbai-based pharmaceutical company Sun Pharmaceutical Industries announced today the creation of a joint venture to develop, manufacture and commercialize new combinations and formulations of branded generics in the emerging markets.

Merck shares are down 0.2%.

Meanwhile, shares of both Tenet Healthcare ( THC ) and Community Health Systems, Inc. ( CYH ) plummeted today as Tenet filed a lawsuit against CHS alleging that the latter "systematically overbilled Medicare and likely other payers as well."

Tenet is off 16.5% in morning trade while Community Health Systems is down nearly 33.9% to 26.81.

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: CYH , MRK , THC

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