Sector Update: Healthcare


Healthcare stocks are moderately higher, with the NYSE Healthcare Sector Index gaining about 0.2% and shares of healthcare companies in the S&P 500 rising 0.1% as a group.

In company news, CollabRx ( CLRX ) is up more than 15% at $4.85 a share, earlier streaking to a new 52-week high of $6.75 after announcing a multi-year, non-exclusive agreement to supply medical annotations to Quest Diagnostics ( DGX ) for its new sequencing test services for cancer.

The service was developed by CLRX and customized for use by DGX. Under the agreement, DGX has the right to incorporate medical content, such as scientific literature, medical guidelines and published therapeutic protocols into its sequencing cancer tests. It also will have the right to incorporate CLRX content into clinical-trial services performed for its pharmaceutical clients.

Financial terms of the agreement were not disclosed. DGX shares are ahead 0.5% at $63.61 each.

In other sector news,

(+) VPHM, (+25.5%) Agrees to $4.2 billion buyout from Shire plc ( SHPG ), with shareholders receiving $50 per share in cash. SHPG shares also are 0.3% higher.

(-) MDRX, (-0.6%) Reports Q3 adjusted earnings of $0.05 per share, trailing analyst estimates by $0.03. Revenue declined 8.6% year over year to $330 million, missing the FactSet consensus call by $24.1

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

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

This article appears in: Investing , Commodities

Referenced Stocks: CLRX , DGX , SHPG

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