Sector Update: Healthcare Shares Flat; Pluristem Therapeutics up 4% on Partnership with CHA Bio & Diostech

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Healthcare stocks:

JNJ: +0.02%

PFE: -0.07%

ABT: flat

MRK: flat

AMGN: flat

Healthcare shares are generally flat in pre-market trade.

Among news in this sector, Magellan Health Services ( MGLN ) expects to generate 2014 net revenue in the range of $3.61 billion to $3.80 billion, and net income in the range of $57 million to $73 million, which translates into diluted earnings per share in the range of $2.00 to $2.56, inclusive of share repurchases to date and the effect of the Affordable Care Act (ACA) tax.

The analyst consensus on Capital IQ stands at $3.40 billion in revenue and earnings of $3.27 per share.

And, Sucampo Pharmaceuticals ( SCMP ) said it has initiated a global phase 3 clinical program to test its lubiprostone in pediatric functional constipation together with development and commercialization partner Takeda Pharmaceuticals.

The phase 3 program was preceded by an open-label trial in 124 patients aged 3 to 17 years, which suggested that lubiprostone warrants further investigation as a potential treatment for children and adolescents with functional constipation.

Finally, shares in Pluristem Therapeutics Inc. ( PSTI ) are up about 4% pre-market after the company said it has sealed a partnership with South Korea's CHA Bio & Diostech through a mutual stock investment worth $10.16 million.

Pluristem has issued 2.5 common stock to CHA, while CHA has issued 1,011,504 shares to Pluristem. This reflects a total consideration of $10.4 million, at a price of $4.16 per Pluristem common share, a premium of 26% over the closing price on December 16, 2013. The shares are subject to a lock up period of one year.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: MGLN , PSTI , SCMP

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