Sector Update: Healthcare

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Healthcare stocks were moderately lower Friday with the NYSE Healthcare Sector Index slipping 0.2% and shares of healthcare companies in the S&P 500 declining almost 0.4% as a group.

In company news, shares of two drug-makers fall Friday afternoon after the U.S. Food and Drug Administration called for an an assessment of potential neurocognitive side effects of an experimental cholesterol drug being developed by Regeneron ( REGN ) and Sanofi ( SNY ), Sanofi said in its annual report today.

The statement repeated a filing made by REGN last month.

REGN shares were off 4.6% in late trade at $322.74 each while U.S.-listed SNY shares were down 1.1% at $51.96 apiece.

In other sector news,

(+) COO, Hits new record high after posting Q1 EPS of $1.47, topping consensus by $0.01. Revenue rises 8% to $405 million, surpassing estimates by $5 mln. Tweaks bottom of its guidance range for FY14 EPS, revenue, staying in-line with Street view.

(-) SEM, Prices $110 mln private placement of its 6.375% senior notes due 2021 at 101.65% of principal amount after previously selling $600 mln of the notes. Proceeds will repay debt used to buy back 10 mln shares at $10.95 each.



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This article appears in: Investing , Commodities

Referenced Stocks: REGN , SNY

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