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Health Care Sector Update for 01/25/2018: KPTI,BIIB,SNN,XLNX


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Top Health Care Stocks

JNJ +1.39%

PFE +0.77%

ABT +2.37%

MRK -0.03%

AMGN +0.01%

Health care stocks were outpacing most other sectors Thursday, including a more than 0.9% gain for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 were up almost 0.8% as a group while the Nasdaq Biotechnology index was putting up a nearly 0.7% advance.

Among health care stocks moving on news:

+ Karyopharm Therapeutics ( KPTI ) was more than 7% higher in Thursday's mid-day trading, easing only slightly from a recent 8% run to a session high of $11.30 a share, after the specialty pharmaceuticals company announced a deal selling its KPT-350 product candidate to Biogen ( BIIB ) for about $217 million. The prospective treatment for various neurological, autoimmune and inflammatory conditions works by inhibiting XPO1 to reduce inflammation and neurotoxicity as well as boosting neuroprotective responses. Under terms of the deal, Biogen will make a one-time, $10 million upfront payment to Karyopharm, which is eligible for up to $207 million in additional payments as KPT-350 reaches certain development and commercial milestones. Karyopharm also will receive tiered royalty payments from Biogen reaching the low-double percentage digits based on future net sales of specified product candidates.

In other sector news:

+ Smith & Nephew ( SNN ) rose over 4% on Thursday after analysts at JPMorgan raised its investment recommendation for the medical equipment manufacturer to Overweight from Neutral.

- Xilinx ( XLNX ) turned lower in afternoon trading, giving back a 4% advance earlier in the session that followed the company reporting an 8% increase in fiscal Q3 sales over year-ago levels to $631 million, roughly in-line with the $630 million analyst mean. It also earned $0.05 per share during the quarter, which includes around $183 million in tax-related costs. Analysts, on average, were expecting a $0.63 per share profit.

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: KPTI , BIIB , SNN , XLNX


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