Sector Update: Mixed Pre-Market As Merck Snaps Up Idenix for $3.85 Bln


Top Healthcare stocks:

JNJ: -0.02%

PFE: -0.07%

ABT: flat

MRK: -0.61%

AMGN: flat

Healthcare shares were mixed in pre-market trade on Monday.

In healthcare stocks news, Merck ( MRK ) said it plans to buy Idenix ( IDIX ) in a $3.85 billion deal.

IDIX shares were up 232.2% at $24.02, well past their 52-week high of $9.32. MRK was down 0.6% at $57.50 in pre-market trade with a 52-week range of $44.62 to $59.84.

And, Cancer Genetics, Inc. ( CGIX ) has been selected by AstraZeneca to provide biomarker-based diagnostic testing for cancer in Central America and the Caribbean. The companies will work in close conjunction on exploring expansion opportunities into additional geographic territories, further oncology categories, and into select oncology trials.

The relationship is expected to concentrate on multiple cancer categories, with lung cancer being an initial area of focus.

Shares of CGXI were up more than 6% in pre-market trading with a 52-week range of $7.00 - $23.25.

Finally Natus Medical ( BABY ) approved a stock repurchase program authorizing the repurchase of up to $10 million of the company's common stock.

There is no set expiration date for the program. The primary objective of the share repurchase program is to offset the impact of dilution from issuances relating to employee equity grants and the Company's employee stock purchase program.

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

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

This article appears in: Investing , Commodities

Referenced Stocks: MRK , IDIX , CGIX , BABY

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