Sector Update: Healthcare Share Flat; Galena Sinks 9% on Public Offering Plans

By Staff,

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Health care stocks:

JNJ: -0.53%

PFE: flat

ABT: flat

MRK: flat

AMGN: flat

Healthcare shares are flat in pre-market, while Fresenius Medical Care ( FMS ) is buying 43 hospitals in Germany for $4.1 billion, Bloomberg reports this morning. The move creates Europe's largest chain of private hospitals and many competitors tried to block the move.

FMS is flat in pre-market trade for $32.47.

And, Galena Biopharma ( GALE ) shares are down 9% at $2.08 in pre-market trade after the company said late yesterday that it intends to offer shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering. The terms of the deal have not been announced.

Finally, Sangamo Biosciences ( SGMO ) shares were trading up 5% at $11.00 in pre-market trade after the company reported that new data from its ongoing Phase 2 clinical trial of its SB-728-T drug for the treatment of HIV can potentially enable attacks on the infection from several angles.

The 52-week high is at $11.32, with the low at $4.92.

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: FMS , GALE , SGMO

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