Health Care Sector Update for 08/14/2019: TLRY, ZLAB, NVCR, MNK, JNJ, PFE, ABT, MRK, AMGN

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Top Health Care Stocks:

JNJ: -0.63%

PFE: -0.80%

ABT: -0.75%

MRK: -1.18%

AMGN: -1.42%

Top health care stocks were retreating pre-bell Wednesday.

Early movers include:

(-) Tilray ( TLRY ), which was down 11% after booking a wider-than-expected adjusted loss but higher-than-expected revenue for its most recent quarter. Adjusted net loss expanded to $0.32 per share for the June quarter, from a net loss of $0.15 per share for the year-ago period. The average estimate of analysts surveyed by Capital IQ was for a net loss of $0.27 per share.

(+) Zai Lab ( ZLAB ) and Novocure ( NVCR ) said the China National Medical Products Administration has granted an innovative designation for Optune, a tumor treating delivery system that uses electric fields to disrupt cancer cell division and hinder tumor growth. Novocure was up more than 2% in recent trading.

(-) Mallinckrodt ( MNK ) was down over 1% after saying its phase 1b clinical study involving patients with skin burns showed that a single application of StrataGraft, an investigational regenerative tissue, resulted in wound closure by three months in 27 of 29 study participants.

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: TLRY , ZLAB , NVCR , MNK , JNJ

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