Health Care Sector Update for 01/12/2018: PSTI,GSK,CNCE,INCY

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Top Health Care Stocks

JNJ +0.68%

PFE +0.82%

ABT +0.10%

MRK +1.83%

AMGN +1.52%

Health care stocks were keeping pace with the broader US markets Friday, including a more than 0.7% gain for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 were up nearly 0.8% as a group while the Nasdaq Biotechnology index raced over 1.2% higher today.

Among health care stocks moving on news:

Pluristem Therapeutics ( PSTI ) rose over 7% on Friday, topping out at $1.63 per American depositary share, after the Israeli drugmaker published a peer-reviewed study in the journal Scientific Reports showing PLX cells significantly inhibit cancer cell growth. Data showed the modified PLX cells exhibit an anti-proliferative effect on 45% of the tested cancer cell lines, with a particularly strong inhibitory impact on various types of breast, colorectal, kidney, liver, lung, muscle and skin cancers. Looking forward, the company said patients' tumors could be screened "to identify those patients most likely to show a positive response to treatment with PLX cells."

In other sector news:

+ GlaxoSmithKline ( GSK ): FDA expands indication for the company's Fluarix Quadrivalent vaccine to now include children over 6 months of age. Previously, Fluarix was only approved to vaccinate against influenza subtype A and type B viruses in people 3 years of age and older.

- Concert Pharmaceuticals ( CNCE ): US Patent and Trademark Office turns down the drugmaker's post-grant review petition challenging the validity of an Incyte Pharmaceuticals ( INCY ) patent. Concert said it is reviewing options, including pursuing legal actions. It also will continue to develop its CTP-543 drug candidate to treat alopecia areata.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , US Markets
Referenced Symbols: PSTI , GSK , CNCE , INCY

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