Sector Update: Healthcare


Healthcare stocks are higher with the NYSE Healthcare Sector Index rising 0.4% and shares of healthcare companies in the S&P 500 adding 0.5% as a group.

In company news, GlaxoSmithKline ( GSK ) is up 1.2% to near $52 a share after the U.S. Food and Drug Administration today approved its ViiV Healthcare joint venture with Pfizer Inc ( PFE ) that's been developing a new HIV treatment.

The agency has approved Tivicay 50-mg tablets, which is an integrase inhibitor to be combined with other drugs to treat HIV-1 in adults and children aged 12 years and older weighing at least 88 pounds.

GSK and PFE formed ViiV in 2009. PFE is slightly higher at near $29.20 a share, up 0.2%.

In other sector news,

(+) AVNR, (+4.4%, nearing 52 week highs) Enters exclusive, multi-year deal with Merck ( MRK ) to co-promote MRK's type 2 diabetes therapies. The package is worth up to $60 mln over the next three years, AVNR said.

(-) MDCO, (-3.8%) Discloses plans to sell up to 5.5 mln shares of its common stock through an underwritten public offering of stock.

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: GSK , MRK , PFE

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