Health Care Sector Update for 05/16/2018: SGMO,SNY,EGRX

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Top Health Care Stocks

JNJ +0.30%

PFE +0.35%

ABT +0.68%

MRK +1.15%

AMGN +1.70%

Health care stocks were higher Wednesday, including a more than 0.6% gain for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 were up almost 0.7% as a group while the Nasdaq Biotechnology index was posting a more than 0.9% advance.

Among health care stocks moving on news:

+ Sangamo Therapeutics ( SGMO ) climbed as much as 4% on Wednesday after the specialty drugmaker said the US Food and Drug Administration has accepted its investigational new drug application for its BIVV003 drug candidate to treat people with sickle cell disease. Sangamo developed the gene-edited cell therapy with Sanofi's Bioverativ unit through an exclusive global collaboration agreement. Sanofi shares also were fractionally higher Wednesday afternoon.

In other sector news:

+ Eagle Pharmaceuticals ( EGRX ) was more than 2% higher in recent trading after Wednesday saying the US Food and Drug Administration has approved 500-milliliter doses of its bendamustine hydrochloride solution to treat patients with chronic lymphocytic leukemia as well as patients with indolent B-cell non-Hodgkin lymphoma that has progressed over the past six months dispite being treated with a rituximab medication. In prepared remarks, CEO Scott Tarriff said he expects to eventually achieve a market share of up to 12% with the new drug and increasing its overall profitability.

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: SGMO , EGRX , SNY

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