Health Care Sector Update for 07/19/2016: ARNA,CERU,SCLN

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Top Health Care Stocks

JNJ +1.72%

PFE -0.05%

MRK -0.83%

ABT -0.66%

AMGN -0.48%

Health care stocks have pared some of their earlier declines Tuesday afternoon, with the NYSE Health Care Index slumping 0.2% while shares of health care companies in the S&P 500 also were down about 0.3% as a group.

In company news, Arena Pharmaceuticals ( ARNA ) was holding on to a small gain on Tuesday after federal regulators approved an extended-release version of its Belviq weight-loss drug.

Approval by the U.S. Food and Drug Administration triggered a $10 million milestone payment for Arena from Eisai Inc. The new version of the drug should be available within a few months, Arena said.starting in fall 2016.

ARNA shares were still 1.2% higher in recent trade at $1.72, retreating only slightly from a $1.82 a share session high earlier today.

In other sector news,

(+) CERU, FDA grants Fast Track designation for CRLX101 drug candidate as a potential treatment of platinum-resistant ovarian carcinoma, fallopian tube or primary peritoneal cancer in combination with paclitaxel.

(-) SCLN, Said it no longer is in active discussions with suitors about a potential acquisition. Sees FY16 EPS of $0.70 to $0.74, trailing year-ago profit by at least $0.26 per share. Projects revenue growth of 3.6% or less.

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: ARNA ,

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