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Sector Update: Healthcare Shares Slightly Higher in Pre-Market; Vanda Pharmaceuticals Down 11% on Sustained Decline

Posted
6/19/2013 8:11:00 AM
By: MT Newswires
Referenced Stocks:AZN;BMY;LLY;VNDA

Health care stocks:

JNJ: +0.08%

PFE: -0.20%

ABT: flat

MRK: +0.13%

AMGN: +0.10%

Healthcare shares are a bit higher pre-market. Eli Lilly's ( LLY ) drug Zyprexa is being investigated by the FDA after two patients died after taking it, Bloomberg reports. Zyprexa is an antipsychotic. Eli Lilly shares are flat in pre-market at $52.35.

Also, Bristol-Myers Squibb Company ( BMY ) and AstraZeneca ( AZN ) say results of the Phase 4 SAVOR-TIMI-53 clinical trial of Onglyza met the primary safety objective of non-inferiority.

But it did not meet the primary efficacy objective of superiority, for a composite endpoint of cardiovascular death, non-fatal myocardial infarction or non-fatal ischaemic stroke, when added to a patient's current standard of care versus a placebo. BMY is flat at $46.85 in pre-market trade; AZN is down 0.3% at $50.81.

Finally, Vanda Pharmaceuticals ( VNDA ) shares, which have been struggling all week in the wake of data on Tasimelteon studies, have sunk more than 11% pre-market.