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Sector Update: Health Care

By: MT Newswires
Posted: 4/11/2011 2:02:00 PM
Referenced Stocks: CYH;MRK;THC

Health care shares are seeing mild support in mid-day trading while Merck & Co ( MRK ) makes a move to address emerging markets. Merck and Mumbai-based pharmaceutical company Sun Pharmaceutical Industries announced today the creation of a joint venture to develop, manufacture and commercialize new combinations and formulations of branded generics in the emerging markets. Meanwhile, shares of both Tenet Healthcare ( THC ) and Community Health Systems, Inc. ( CYH ) plummeted today after Tenet filed a lawsuit against CHS alleging that the latter "systematically overbilled Medicare and likely other payers as well."