Top Health Care Stocks
Health care stocks were ending the regular session mostly higher Thursday, including a nearly 0.4% gain for the NYSE Health Care Index (^NYP) in recent trade. Also today, shares of health care companies in the S&P 500 ( XLV ) also were up 0.4% as a group while the Nasdaq Biotechnology index (^NBI) was maintaining a 0.3% advance.
Among health care stocks moving on news today:
MiMedx Group ( MDXG ) fell more than 2% after the biopharmaceutical company said it "successfully" settled its longstanding patent infringement lawsuit against Musculoskeletal Transplant Foundation (MTF), Medline Industries, and Liventa Bioscience. The details of the settlement are confidential, the company said in a statement.
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 prospective cancer therapy, including a 10-year market exclusivity period in the region after it receives marketing approval.
- Endo International ( ENDP ) retreated Thursday 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.
- Boston Scientific ( BSX ) fell this afternoon, giving back a small gain earlier today that followed the medical-device company today saying its Spectra WaveWriter spinal cord stimulator has been cleared for U.S. sales, becoming the first FDA-approved device to simultaneously provide paresthesia-based and sub-perception therapies.
- Charles River (CRL) was lower in recent trading after the contract research laboratory company today purchased UK rival KWS Biotest for $20 mln (GBP15 mln) and up to GBP13 mln in additional payments based on performance. Charles River does not expect the deal will have a material impact on its 2018 financial results.
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