Health Care Sector Update for 01/23/2017: BIOL,MDGS,APTO

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Top Health Care Stocks

JNJ -0.11%

PFE -1.04%

MRK -0.22%

ABT -1.22%

AMGN -1.30%

Health care stocks were moderately lower in recent trade, with the NYSE Health Care Index dropping about 0.3% while shares of health care companies in the S&P 500 also were down 0.3% as a group.

In company news, Biolase ( BIOL ) surged Monday after the medical device manufacturer today confirmed it had received 510(k) clearance from the U.S. Food and Drug Administration to launch sales of Epic Pro dental diode laser system.

The Epic Pro is the first commercially available laser system resulting from the 2015 strategic development agreement between Biolase and IPG Photonics' IPG Medical Corp subsidiary. Systems will be available in the United States and select international markets, according to CEO Harold Flynn Jr.

BIOL shares were up over 14% at $1.68 apiece, retreating somewhat from an initial increase to $1.84 a share soon after today's opening bell.

In other sector news,

(+) MDGS, Innovamedica SpA, a privately held medical-device distributor in Italy, makes its first purchase of the company's Muse system during the companies' existing distribution agreement.

(-) APTO, Temporarily delays clinical testing of its APTO-253 drug candidate to determine the cause of recent manufacturing setbacks related to the intravenous formulation of the prospective cancer treatment.

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: BIOL , MDGS , APTO

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