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