Healthcare stocks are sharply lower, with the NYSE Healthcare
Sector Index falling about 0.8% and shares of healthcare companies
in the S&P 500 sliding 0.9% as a group.
In company news, Unilife Corp (
) rose to a new 52-week high earlier, climbing nearly 23% to $5.10
after late Monday announcing a new clinical supply agreement for
use of its injectable drug delivery platform with one of Novartis'
) early-stage pipeline drugs.
Under the deal, UNIS will supply NVS with a customized delivery
device - consisting of a syringe, needle, tubing, controller and a
pump - to administer an investigational NVS drug into a targeted
organ during an upcoming clinical trial.
UNIS also has granted NVS with an exclusivity option through the
pact. The new deal follows similar collaborations between the
companies that began in 2011.
At last look, UNIS shares were ahead about 14% at $4.73 apiece.
NVS was down 1% at $78.45 a share.
In other sector news,
(+) CNAT (+21.1%) U.S. Food and Drug Administration grants
orphan drug status for the company's Emricasan drug candidate - now
in Phase IIb testing - to stymie recurrent fibrosis and cirrhosis
in liver-transplant recipients.
(-) THO, (-3.1%) Q1 earnings of $0.68 per share, ex items, trail
analyst expectations by $0.02. Revenue rises 5.1% year over year to
$800 mln, roughly matching Street view looking for $802.6 mln in
Copyright (C) 2013 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.