Health Care Sector Update for 08/20/2018: AMRX, ALXN, ALSN, THC, LCI

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Top Health Care Stocks

JNJ +1.78%

PFE +0.77%

ABT -0.03%

MRK +1.60%

AMGN +0.09%

Health care stocks still were mostly higher, including a more than 0.5% gain for the NYSE Health Care Index in late trade. Also, shares of health care companies in the S&P 500 were more than 0.4% as a group although the Nasdaq Biotechnology index was slipping just over 0.1%.

Among health care stocks moving on news:

+ Amneal Pharmaceuticals ( AMRX ) rose to a new record high on Monday, climbing more than 13% to a best-ever $24.40 a share after the company said it received a 10-year license and supply agreement for its Levothyroxine sodium tablets with Jerome Stevens Pharmaceuticals, effective March 22, 2019. The deal includes an unspecified upfront milestone payment when levothyroxine is commercialized in addition to a share of future sales of the thyroid hormone. Lannett Co ( LCI ) previously said its distribution agreement expiring March 23, 2019, with Jerome Stevens would not be renewed.

In other sector news:

+ Alexion Pharmaceuticals ( ALXN ) climbed as much as 2% on Monday after the U.S. Food and Drug Administration accepted its biologics license application for the company's ALXN1210 drug candidate to treat patients with paroxysmal nocturnal hemoglobinuria. The move begins an expedited eight-month review period with a Feb. 18 deadline for the agency to decide on whether ALXN1210 is allowed to begin U.S. sales instead of the standard 12-month review period.

+ ASLAN Pharmaceuticals ( ASLN ) still was more than 1% higher Monday afternoon, giving back a more than 5% advance earlier in the session, after U.S. regulators designated its ASLAN003 product candidate as an orphan drug to treat acute myeloid leukemia.

- Tenet Healthcare Corp ( THC ) dropped as much as 5% on Monday after the firm said it has completed the sale of Aspen Healthcare Ltd, the operator of its nine UK healthcare facilities to NMC Healthcare UK Ltd. Following the transaction, Tenet no longer has any operations in the United Kingdom.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , US Markets
Referenced Symbols: AMRX , LCI , ALXN , ASLN , THC

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