Health Care Sector Update for 01/28/2019: ABBV,ALXN,TRVN,ARAY

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Top Health Care Stocks

JNJ +0.26%

PFE -2.65%

ABT -3.00%

MRK -0.11%

AMGN -3.53%

Health care stocks were mostly lower, including a 0.9% decline for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were down nearly 1.3% as a group while the Nasdaq Biotechnology index was falling over 2.1%.

Among health care stocks moving on news:

(+) AbbVie ( ABBV ) slipped more than 4% during Monday trading after the US Food and Drug Administration approved the use of a combination of its Imbruvica cancer medication in combination with Genentech's Gazyva monoclonal antibody in adult patients with previously untreated chronic lymphocytic leukemia or small lymphocytic lymphoma.

In other sector news:

(+) Trevena ( TRVN ) surged about 100% higher after the US Food and Drug Administration agreed the current safety database for the company's oliceridine intravenous drug candidate will support labeling for the prospective opioid pain treatment at a maximum daily dose of 27 milligrams.

(-) Accuray ( ARAY ) was down over 4% on Monday. The company's Accuray Asia unit said it formed a joint venture with a China Isotope and Radiation subsidiary to build and sell radiation oncology systems in China.

(-) Alexion Pharmaceuticals ( ALXN ) fell almost 2% this afternoon. The company Monday said its Ultomiris drug candidate met its primary endpoint during phase III testing, with 53.6% of patients with atypical hemolytic uremic syndrome demonstrating complete thrombotic microangiopathy response defined by hematologic normalization and improved kidney function.

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: ABBV , TRVN , ARAY , ALXN

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