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Health Care Sector Update for 04/11/2018: ALXN,TXMD,BIOL


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Top Health Care Stocks

JNJ -0.20%

PFE -0.06%

ABT -0.71%

MRK -0.46%

AMGN -0.05%

Health care stocks were declining this afternoon, including a nearly 0.5% slump for the NYSE Health Care Index in recent trade. Also, shares of health care companies in the S&P 500 were down almost 0.5% as a group while the Nasdaq Biotechnology index was rising 0.2%.

Among health care stocks moving on news:

- Alexion Pharmaceuticals ( ALXN ) fell as much as 2% on Wednesday after the specialty drugmaker made an $855.1 million takeover offer for Wilson Therapeutics, a Swedish health care company specializing in new treatments for patients with rare copper-mediated disorders. Under the terms of the deal, an Alexion subsidiary has started a SEK7.1 billion cash tender offer for all of Wilson's shares at SEK232 apiece, with the deal already receiving support from four of Wilson's largest individual shareholders and representing more than 57% of its outstanding stock. The transaction is expected to close later in Q2.

In other sector news:

+ TherapeuticsMD ( TXMD ) rose almost 6% after the firm said it was negotiating with the U.S. Food and Drug Administration on the proposed labeling for the company's TX-004HR applicator-free estradiol vaginal softgel capsule to treat moderate-to-severe vaginal pain during sexual intercourse. The drug candidate previously received a May 29 target action date under the the Prescription Drug User Fee Act.

- Biolase ( BIOL ) retreated Wednesday, dropping more than 13%, after the company said chief financial officer John Beaver will move up to take the CEO post on an interim basis that's been vacant since Harold Flynn resigned as chief executive and a board member to pursue other interests. The manufacturer of dental and surgical lasers also said board chairman Jonathan Lord will lead an exploration of the company's strategic alternatives.

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: ALXN , TXMD , BIOL


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