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Sector Update: Healthcare

By: MT Newswires
Posted: 2/14/2014 3:39:00 PM
Referenced Stocks: MYL;PZE;PHMD

Healthcare stocks were mostly higher Friday with the NYSE Healthcare Sector Index gaining about 0.8% while shares of healthcare companies in the S&P 500 were up about 0.4% as a group.

In company news, Mylan ( MYL ) was edging lower in Friday afternoon trading after the drug-maker said its Agila Specialties Private Ltd subsidiary voluntarily recalled 10 lots of its Etomidate anesthetic.

The lots include 10 milliliter and 20 milliliter injections. The company initiated the recall on Thursday after discovering the potential for small black particles - identified as paper shipper labels - to be found in individual vials. All of the affected vials were produced at Agila's facility in Warsaw, Poland, and bear a Pfizer ( PZE ) label.

The companies said they have not received any reports of adverse events linked to the recalled vials.

MYL shares were down 0.2% at $46.10 each, bouncing back from an intra-day low of $45.78 a share earlier in the session. The stock has a 52-week range of $27.66 to $46.73 a share, hitting its high-water mark for the past year on Jan. 22. PFE shares were up 0.8% today at $31.96.

In other sector news,

(+) LCAV, Climbs to new 52-week high after agreeing to $106.4 mln buyout from PhotoMedex ( PHMD ). LCAV shareholders will receive $5.37 a share - a 34% premium over Wednesday's close. Deal seen adding to PHMD FY14 earning.

(-) ADAT, Narrows net loss by 36% from the same quarter last year, recording $0.07 per share loss in fiscal Q2. Revenue increases 39% over year-ago period to $1.5 million. No analyst estimates were available for comparison.