Sector Update: Healthcare Shares Flat; IntelliPhamaCeutials Spikes 80% on FDA Approval

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Healthcare stocks:

JNJ: flat

PFE: -0.41%

ABT: flat

MRK: +0.62%

AMGN: flat

Healthcare shares are fairly flat in pre-market. Among the major movers, shares in IntelliPharmaCeutics International Inc. ( IPCI ) have spiked about 80% pre-market after the maker of controlled and targeted-release drugs won final FDA approval of its 15 and 30 milligram formulations of dexmethylphenidate hydrochloride extended-release capsules.

The stock recently changed hands at $3.15 after hitting an earlier high of $3.72, its best level since August 2011.

And, Medtronic ( MDT ) is down about 1% as it reports Q2 revenue of $4.19 bln, vs. the analyst consensus of $4.17 bln on Capital IQ. Adjusted EPS was $0.91, vs. expectations of $0.90 per share.

For FY 2014, the company continues to expect full year revenue growth in the range of 3% to 4% on a constant currency basis and EPS in the range of $3.80 to $3.85. The Street view is $3.82 per share.

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) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities
Referenced Symbols: IPCI , MDT

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