Healthcare stocks are mostly higher with the NYSE Healthcare
Sector Index advancing 0.6% while shares of healthcare companies in
the S&P 500 are now up 1.1% as a group.
In company news, St. Jude Medical Inc. (
) is up 3.1% at $56.52 a share, earlier climbing to a new 52-week
high of $57.17 after the U.S. Food and Drug Administration recently
signaled it may be close to approving a heart-failure detection
device developed by a medical-device startup.
STJ stands first in line to buy privately held CardioMEMS,
already owning a 19% stake in the company and can purchase full
control of the firm and its Champion implantable heart monitor for
$375 million. CardioMEMs is slated to meet again with the FDA's
Circulatory Systems Device panel next Wednesday, prompting a
positive research note today from Leerink Swan analyst Danielle
The analyst said recent documents released by the agency ahead
of the Oct. 9 meeting acknowledged its effectiveness, according to
MarketWatch and other media sources. The advisory panel two years
turned down the company's 401k request but Antalffy is now giving
CardioMEMS a 90% chance at winning a recommendation this time
In other sector news,
(+) DSCO, FDA agrees to the company's updated product
specifications for Surfaxin intratracheal suspension and approves
it for the prevention of respiratory distress syndrome in premature
(-) LCI, Proposes underwritten public offering of new shares by
the generic drug-maker as well as shares now held by selected
shareholders. The number of shares to be offered and by whom has
not yet been disclosed.
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