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Sector Update: Healthcare

Posted
8/26/2013 7:57:00 AM
By: MT Newswires
Referenced Stocks:AMGN;MRGE;SNY

Healthcare shares are mixed in pre-market trade. Merge Healthcare ( MRGE ) shares are up 6.2% at $2.56 as outgoing chairman Michael Ferro said he intends to "explore a variety of ways to increase shareholder value, including, possibly, a going-private transaction."

Ferro, who owns 26.6 million of the company's shares, resigned today and the company appointed Dennis Brown as the company's new chairman, effective immediately. Ferro described Merge's Q2 results as "very disappointing," adding he doesn't believe the current trading price reflects the company's long-term prospects.

MRGE are trading in a 52-week range of $2.27 and $4.70.

And shares in Amgen ( AMGN ) are up more than 5% pre-market after the company reached an agreement on Sunday to buy Onyx Pharmaceutical for about $10.4 billion in cash.

Amgen will pay $125 a share, gaining access to Onyx's Kyprolis blood cancer drug. Onyx is also up more than 5% pre-market.

Finally, Sanofi ( SNY ) reports that its influenza vaccine proved efficient in clinical trails of people over 65, MarketWatch reports. Shares are steady at $50.50 in pre-market.