Sector Update: Healthcare; Valeant Files HSR Notification for Allergan Buy, QLT Posts Data from Phase 1b Trial of QLT091001


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Healthcare stocks were mixed in afternoon trading. The S&P/TSX Healthcare index was up 0.2%.

Valeant Pharmaceuticals (VRX.TO): +0.3%

QLT Inc. (QLT.TO): +0.5%

Tekmira Pharmaceuticals (TKM.TO): -2.7%

Catamaran (CCT.TO): -0.1%

Oncolytics Biotech (ONC.TO): +2.9%

In corporate news, Valeant Pharmaceuticals Monday filed a pre-merger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with the US Federal Trade Commission relating to the proposed acquisition of Allergan ( AGN ), a multi-speciality health care company.

Meanwhile, QLT Inc. Monday published data from its Phase 1b proof of concept trial of QLT091001 to treat a condition that can cause blindness, saying patients using the product saw significant improvement. QLT091001 is being assessed in subjects with Leber Congenital Amaurosis (LCA) due to inherited genetic mutations in retinal pigment epithelium (RPE65) or lecithin:retinol acyltransferase. In the study, treatment for 7 days with oral QLT091001 demonstrated a restoration of clinically meaningful visual function in 11 of the 14 LCA patients, as measured by improvement in Goldmann Visual Fields (GVF) or visual acuity.

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This article appears in: Investing , Commodities

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