Health Care Sector Update for 01/11/2018: ENDP,MEIP,BSX,CRL

Top Health Care Stocks

JNJ +0.31%

PFE -0.11%

ABT +0.23%

MRK +0.26%

AMGN -0.69%

Health care stocks were slightly higher Thursday, including a nearly 0.2% gain for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 also were up a little more than 0.2% as a group while the Nasdaq Biotechnology index was maintaining a 0.2% advance.

Among health care stocks moving on news:

- Endo International ( ENDP ) retreated Thursday, sinking over 3% to a session low of $7.79 a share, after saying it has received a grand jury subpoena from federal prosecutors seeking documents and information about any of its products containing oxymorphone. The probe is specifically looking for documents exploring addiction or overdose risks as well as its third-party sales and distribution agreements and correspondence with state and federal regulators or other agencies. The company said it is cooperating with the investigation.

In other sector news:

+ MEI Pharma ( MEIP ) climbed over 11% at one point Thursday after its Pracinostat leukemia drug candidate received orphan drug designation from the European Medicines Agency. The company is now eligible to certain incentives to develop the therapy, including a 10-year market exclusivity period after it receives marketing approval.

- Boston Scientific ( BSX ) was lower in afternoon trading, giving back a small gain earlier Thursday that followed the medical-device company saying its Spectra WaveWriter spinal cord stimulator has been cleared for US sales, becoming the first FDA-approved device to simultaneously provide paresthesia-based and sub-perception therapies.

- Charles River ( CRL ) was lower in recent trading, previously sinking almost 1% to a session low of $108.90 a share, after the contract research laboratory company Thursday purchased UK rival KWS Biotest for $20 million (GBP15 million) and up to GBP13 million in additional payments based on performance. Charles River does not expect the deal will have a material impact on its 2018 financial results.

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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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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