Markets

Health Care Sector Update for 02/09/2016: RDHL, RDY

[This article updates an earlier version which incorrectly placed the word "Financial" in the headline instead of "Health Care" as the updated article shows]

Top Health-care stocks:

JNJ: flat

PFE: +1.9%

ABT: -0.8%

MRK: +0.8%

AMGN: +0.2%

Health-care shares closed mainly higher on Tuesday.

In health-care stocks news, shares at Redhill Biopharma ( RDHL ), an Israeli company focused on the development of late clinical-stage drugs for inflammatory and gastrointestinal diseases, rose after the company said it is making "significant progress" with its three ongoing Phase III-stage programs.

Shares in the company were 3.8% higher at $8.44 in recent trade. The company has traded between $8.10 and $22.22 over the past 52 weeks.

And Dr. Reddy's Laboratories ( RDY ) reported financial results for Q3 ended Dec. 31, that fell short of analysts' expectations.

The integrated global pharmaceutical company posted Q3 net profit INR 5.8 million or INR 33.86 per share ($88 million or $0.51 per share), compared with the prior-year period's INR 5.7 million or INR 33.61 per share.

Shares in the company were 6.0% lower at $41.92 in recent trade. The company has traded between $40.67 and $68 over the past 52 weeks.

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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