Top Healthcare Stocks
Healthcare stocks were higher with the NYSE Healthcare Sector
Index adding about 0.5% and shares of healthcare companies in the
S&P 500 climbing 0.8% as a group.
In company news, Kite Pharma (
) had a hot debut on its first day of trading, closing in on a 75%
gain in its market debut.
The strong advance follows the specialty drug-maker pricing an
upsized initial public offering of 7.5 million shares at a price to
the public of $17.00 per share. The deal priced $1 over its
expected price range, also selling an extra 1.5 mln shares above
KITE was up 75.6% at $29.85 a share in late trade, reaching a
first day high of $30 a share.
In other sector news,
(+) SHPG, Rejects three buyout offers from rival drugmaker
), one as high as $46 bln in cash and stock. ABBV is now
considering a fourth offer, two people with knowledge of matter
tell Bloomberg. ABBV also is higher.
(-) MACK, Regains global development and commercialization
rights to its MM-121 prospective cancer treatment from Sanofi (
), which agreed to continue funding Phase II testing for the next
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