Sector Update: Healthcare

By Staff,

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Healthcare stocks are higher today with the NYSE Healthcare Sector Index adding 0.8% and shares of healthcare companies in the S&P 500 rising 1.2% as a group.

In company news, Arena Pharmaceuticals Inc. ( ARNA ) is up more than 18% with the company saying it has expanded the marketing and supply pact for its Belviq anti-obseity medication with Eisai Co. Ltd. to now include nearly the whole world outside of South Korea, Taiwan, Australia, Israel and New Zealand.

Previously, ARNA had provided Eisai with commercialization rights for North and South America. The new agreement is subject to regulatory approvals of Belviq in applicable jurisdictions.

In other sector news,

(+) SNTS, (+37.8%, hit fresh 52 week highs) Agrees to a $2.6-bln acquisition by Salix Pharmaceuticals ( SLXP ), accepting $32 per share. SLXP also is up nearly 18%, saying the deal will "lead to significant accretion in 2014" and "greater" EPS accretion in 2015.

(-) DRRX, (-3.25%) Prices 7.14 mln shares at $1.40 each; board chairman to buy 714,000 shares. Proceeds are expected to support future clinical trials, research & development and working capital.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: ARNA , SLXP

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