Healthcare Stocks Rising Into The Close; J&J Hepatitis C Drug Slated for Advisory Panel Vote
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Healthcare stocks are higher with NYSE Healthcare Sector index rising 1.2% while shares of healthcare companies in the S&P 500 are up 1.0% as a group.
In company news, Johnson & Johnson ( JNJ ) is now up 1.4% near $92.49 after the Food and Drug Administration says the company's experimental hepatitis C drug simeprevir appears to be slightly more effective at eliminating the virus than currently available treatments.
The FDA posted its review on its site ahead of a public meeting Thursday where experts will vote on whether to recommend the drug's approval as well as possible warnings of the drug's reported side effects such as rashes and sunburn.
In other sector news,
(+) MDVN, Says its enzalutamide drug candidate meets both co-primary endpoints of overall survival and radiographic progression-free survival during Phase III testing in chemotherapy-naive patients with advanced prostate cancer.
(-) INSM, Data from Phase III testing of its prospective antibiotic drug candidate is challenged by several sources, including claims Arikace met its primary endpoint of statistical non-inferiority compared to a Novartis drug already on the market.