Healthcare stocks are holding narrow gains, with the NYSE
Healthcare Sector Index gaining about 0.1% and shares of healthcare
companies in the S&P 500 adding about 0.2% as a group.
In company news, Given Imaging (
) is up more than 26% at $29.94 a share, just 2 cents off its new
52-week high after accepting an $860-million buyout offer from
GIVN shareholders will receive $30 in cash for each share they
now own. COV expects to fund transaction with cash on hand and will
report revenue generated by GIVN within its Medical Devices
business segment - adding an expected $40 million to $50 million
per quarter to the segment results.
COV also said it expects the deal will immediately add to its
earnings as soon as it closes, providing the company with scale and
scope in the gastrointestinal market. COV shares are up about
In other sector news,
(+) GILD, (+1.0%) FDA approves the company's sofosbuvir, an
once-daily oral medication to be marketed as Sovaldi, to treat
chronic hepatitis C. The Wholesaler Acquisition Cost of a 28-tablet
bottle of Sovaldi in the United States is $28,000.
(-) PGNX, (-2.2%) Late Friday, released Phase I data for its
TC-99-M-MIP-1404 SPECT/CT imaging agent, saying it correctly
identified eight out of eight patients with prostate cancer in a
poster presentation to the Society for Urologic Oncology in
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