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Health Care Sector Update for 11/21/2016: MNK,OGEN,ACOR


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Top Health Care Stocks

JNJ -0.35%

PFE +0.05%

MRK -0.26%

ABT +0.57%

AMGN +0.17%

Health care stocks were ending slightly higher today, with the NYSE Health Care Index climbing just over 0.1% while shares of health care companies in the S&P 500 were up nearly 0.2% as a group.

In company news, Mallinckrodt plc ( MNK ) surged Monday after U.S. regulators granted fast track designation for an investigational new drug application for the company's Acthar gel drug candidate to treat patients with amyotrophic lateral sclerosis.

The company today also said it is preparing to begin Phase II testing of the prospective ALS drug during the first six months of 2017, building on the positive results for Acthar shown during early-stage safety and tolerability trials. The company conducted several exploratory analysies during the pilot study, comparing the progress of the disease after nine months in a group of Acthar-treated patients with historical data for placebo-treated patients, with that data suggesting more study was appropriate, according to Steven Romano, the chief scientific officer at Mallinckrodt.

MNK shares were up over 4% at $56.20 apiece in late trade, backing down from their $57.27-a-share session high.

In other sector news,

(+) OGEN, FDA grants Fast Track designation to the company's AG013 drug candidate. Discloses plans to file investigative new drug application for the prospective treatment for oral mucositis and beginning a Phase II study of AG013 during Q1.

(-) ACOR, Dalfampridine drug candidate fails to show sufficient efficacy during recent clinical testing to improve walking difficulty in patients following a stoke to support continued development.

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: MNK , OGEN , ACOR



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