Healthcare stocks are higher today with the NYSE Healthcare
Sector Index climbing 0.7% and shares of healthcare companies in
the S&P 500 advancing 0.6% as a group.
In company news, Avanir Pharmaceuticals (
) is up 2.3% to $5.89 a share, advancing to a new 52-week high of
$5.97 in mid-afternoon trade after announcing a settlement
agreement with Wockhardt USA and Wockhardt resolving patent
litigation filed in response to Wockhardt's bid to market generic
versions of Avanir's Nuedexta capsules.
Nuedexta is used to treat involuntary outbursts of crying or
laughing in people with certain neurological disorders, including
multiple sclerosis and amyotrophic lateral sclerosis.
The settlement generally bars Wockhardt from marketing a generic
version of the drug until August 2026 in exchange for AVNR dropping
its suit in Delaware state court. Other terms were not disclosed.
AVNR still has cases pending against two other would-be generic
In other sector news,
(+) TMH, The provider of outsourced physician staffing receives
a subpoena from Department of Health and Human Services' Inspector
General seeking documents related to its services at hospitals
affiliated with Health Management Associates (
(-) NLNK, Discloses plans in a new regulatory filing to sell up
to $60 mln of its common stock from time to time in at-the-market
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