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

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Top Health Care Stocks

JNJ +0.68%

PFE -0.08%

ABT -0.15%

MRK +1.82%

AMGN +1.69%

Health care stocks were keeping pace with the broader U.S. markets, including a nearly 0.8% gain for the NYSE Health Care Index in recent trade. Also today, shares of health care companies in the S&P 500 were up more than 0.8% as a group while the Nasdaq Biotechnology index increased over 0.8% higher today.

Among health care stocks moving on news today:

Canadian drugmaker Valeant Pharmaceuticals International (VRX,VRX.TO) was holding on to a slim gain on Friday, giving back much of a larger advance earlier today that followed the U.S. Food and Drug Administration accepting the new drug application and setting an Aug. 27 deadline to decide whether the company's Altreno lotion is ready for U.S. sales and becoming the first tretinoin anti-acne product that's not either a gel or cream.

In other sector news:

+ Pluristem Therapeutics ( PSTI ) rose over 7% on Friday 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.

+ 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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