Top Health Care Stocks
Health care stocks were putting up small gains Tuesday afternoon, including a more than 0.1% advance for the NYSE Health Care Index in late trade while shares of health care companies in the S&P 500 were up over 0.2% as a group. The Nasdaq Biotechnology index climbed about 0.3% higher today.
Among health care stocks moving on news:
AmerisourceBergen ( ABC ) surged as much as 14% higher, topping out at $102.00 a share on Tuesday following reports Walgreens Boots Alliance ( WBA ) has approached the wholesale drug distributor with a takeover offer. The talks are in their early stage, according to The Wall Street Journal, citing unnamed people familiar with the matter, with Walgreens seeking to buy the 74% of Amerisource stock it doesn't already own. The companies began a 10-year pharmaceutical distribution and strategic partnership in 2013.
In other sector news:
+Eli Lilly and Co ( LLY ) was trading higher again after the drug manufacturer Tuesday said its Taltz drug candidate met its primary endpoint of a statistically significant improvement in Ankylosing Spondylitis symptoms after 16 weeks and compared with a placebo during Phase III testing. Taltz also all of its key secondary endpoints as well. The company expects to file for regulatory approval later this year, pending additional data.
- Becton, Dickinson ( BDX ) fell Tuesday despite the medical technology company saying it received pre-market approval for its BD Onclarity test for human papillomavirus. The test detects 14 types of high-risk HPV from specimens collected for cervical cancer screening and identifies HPV genotypes 16, 18 and 45, which are associated with cervical cancer.
- Dare Biosciences ( DARE ) dropped to a record low on Tuesday after pricing a $10.25 million public offering of 5 million shares of its common stock at $2.05 apiece, a 26.5% discount to Monday's closing price. It also issued 30-day options for underwriters to buy up to 750,000 additional shares and warrants to buy as many as 525,000 shares at $3 each over the next five years while also distributing five-year warrants to investors to buy up to 3.5 million shares, exercisable at $3 a share. The company is expecting $9.4 million in net proceeds.