Pharma, Healthcare ETFs in Focus on M&A Talk, Earnings
Exchange traded funds (ETFs) tracking pharmaceutical and healthcare stocks could see action Monday on news Johnson & Johnson ( JNJ ) is on the prowl for acquisitions and earnings from Eli Lilly ( LLY ).
Swiss device make Synthes confirmed it is in merger negotiations with J&J, according to reports. Shares of U.K. medical technology company Smith & Nephew traded lower as takeover hopes suffered a blow after the bid for Synthes, MarketWatch reported.
Separately, Eli Lilly said its first-quarter profit fell from the year-earlier period.
The largest healthcare ETFs by assets include Health Care SPDR (NYSEArca: IYH).
In pharma ETFs, the most popular offerings include Pharmaceuticals HOLDRS ( IHE ).
Health Care SPDR