Healthcare stocks were moderately lower with the NYSE Healthcare
Sector Index slipping about 0.4% and shares of healthcare companies
in the S&P 500 also falling about 0.4% as a group.
In company news, Allergan Inc. (
) shareholder Samlyn Capital has amassed a $150 million stake in
the Botox maker, yet the hedge fund is still undecided on whether
it should back Valeant Pharmaceuticals' (VRX, VRX.TO) $53 billion
hostile takeover bid for AGN, the Wall Street Journal reported.
In Q2 2014, Samlyn Capital founder Robert Pohly began to rapidly
increase his stake in AGN, the paper noted citing sources familiar
with the matter. According to an investment document obtained by
the WSJ, AGN represents one of Samlyn's top five so-called "long"
In Monday's trade AGN shares were up 2.3% to $171.30 while VRX
shares gained 2.1% to $124.49.
In other sector news,
(+) GILD, Inks collaboration pact with Sandoz to commercialize
its tavaborole topical treatment for fungal infections on toenails
following its July 8 FDA approval. GILD will receive $40 mln
upfront payment and $25 mln in additional milestone payments.
(-) GNCA, Begins Phase II dose-optimization trial for its
GEN-003 drug candidate to treat Type 2 herpes simplex. Interim
results from the trial are expected in mid-2015.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.