Sector Update: Healthcare


Healthcare stocks are moderately higher today with the NYSE Healthcare Sector Index adding 0.4% and shares of healthcare companies in the S&P 500 rising 0.3% as a group.

In company news, Amarin ( AMRN ) is down 18% at $5.23 a share, earlier falling within 3 cents of its 52-week low of $5.15 after the U.S. Food and Drug Administration today released briefing documents for an Oct. 16 advisory panel review of the company's supplemental new drug application for its Vascepa anti-cholesterol drug.

According to the documents, there were no new safety signals identified with the drug, adding the safety profile during Phase III testing was consistent with current labeling and post-market safety reports.

But the documents also raised issues with the company's use of mineral oil as a placebo during the clinical trial, which the FDA believes may have muddled interpretation of the results.

In other sector news,

(+) ANGO, Non-GAAP adjusted earnings of $0.12 per share beat by $0.07 while its $83.6 mln in net sales top analyst estimates by $1.1 mln. Raises EPS, sales forecasts for Q2 and FY14 above Street consensus.

(-) ASTM, Announces 20-for-1 reverse stock split in a move intended to lift stock price above $1 Nasdaq minimum requirement.

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: AMRN

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