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Health Care Sector Update for 07/21/2016: FMS,PFE,RLYP,SSH


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Top Health Care Stocks

JNJ -0.06%

PFE -0.15%

MRK +0.59%

ABT -0.24%

AMGN +0.24%

Health care stocks were narrowly mixed in late trade, with the NYSE Health Care Index declining about 0.3% while shares of health care companies in the S&P 500 still were rising 0.1% as a group.

In company news, American depository shares of Fresenius Medical Care ( FMS ) were lower late Thursday after reports that talks to acquire Pfizer's ( PFE ) pumps and devices business have stalled on valuation.

Bloomberg, citing unnamed people with knowledge of the matter, also said Pfizer has resumed talks with private equity firms in a bid to negotiate a better price for the pump business. The report also said Pfizer eventually may return to talks with Fresenius, or simply keep the assets, if it is unable to strike a deal with the buyout firms.

FMS ADS were down about 0.6% at $44.49 apiece, staying within close range of their session low of $44.35 a share. PFE shares also were slightly lower in late trade, slipping 0.3% to $36.58 each just before today's closing bell.

In other sector news,

(+) RLYP, Agrees to $1.53 bln buyout offer from Galenica, which will pay $32 for each RLYP share, a 59% premium over Wednesday's closing price.

(-) SSH, Launches $3.47 mln direct offering of 3,468 shares of Series B convertible preferred stock, which are convertible into 3.69 mln shares at 94 cents apiece. Also issues three-year warrants to buy up to 3.69 mln more shares, also at 94 cents per share.

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: FMS , PFE ,


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