Sector Update: Healthcare

By Staff,

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

In company news, Illumina Inc. ( ILMN ) shares advanced after the diagnostics company announced a collaboration pact with Amgen Inc. ( AMGN ) to develop and commercialize a multigene, NGS-based test as a companion diagnostic for Vectibix to treat metastatic colorectal cancer.

ILMN was up 3.1% at $124.89 a share in recent trading, after earlier hitting a new, 52-week high at $127. AMGN shares were up 0.2% at $118.80 this afternoon.

Vectibix previously was approved in the U.S. and EU. Under the terms of the agreement, the companies will develop the test to work with ILMN's MiSeqDx testing device, which last year received pre-market clearance from the FDA and was also CE-marked for use in the European Union.

In other sector news,

(+) SRPT, (+42.8%) Said its Eteplirsen drug candidate continues to show stabilization of walking ability during six-minute walking test and no adverse reactions in patients with Duchenne muscular dystrophy through 120 weeks of Phase IIb testing.

(-) AMRN, (-6.5%) Said the FDA's Division of Metabolism and Endocrinology Products told the company it was delaying a decision on the drug-maker's request to reinstate special protocol assessment for testing expanded uses of its anti-cholesterol drug.

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: AMGN , ILMN

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