Sector Update: Healthcare


Healthcare stocks are lower today with the NYSE Healthcare Sector Index slipping about 0.5% and shares of healthcare companies in the S&P 500 declining about 0.6% as a group.

In company news, Pacific Biosciences ( PACB ) is up more than 80% at $6.23 a share, earlier establishing a new 52-week high of $6.50 after announcing a new agreement with Roche Holding Ltd.'s ( RHHBY ) diagnostics unit to develop new products including sequencing systems and consumables.

The new products would be based on PACB's single molecule, real-time technology with RHHBY obtaining exclusive worldwide rights to any products developed for human in-vitro diagnostics.

PACB will continue to market all of its current and future products for fields outside of human in-vitro diagnostics, including research, plant, animal, and applied markets.

In other sector news,

(+) DVAX, Reports immunogenicity and safety results of two Phase III trials of its Heplisav investigational hepatitis B vaccine, concluding the drug can be "an important new adjuvant for immunization against hepatitis B."

(-) CLVS, Bloomberg reports the biotech company is struggling to find a buyer. CLVS previously hired Credit Suisse to shore up interest in an acquisition.

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: PACB , RHHBY

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