Top Health Care Stocks
JNJ +0.78%
PFE +0.85%
ABT +1.11%
MRK +0.98%
AMGN +0.16%
Health care stocks were rising, including a 1% gain for the NYSE Health Care Index this afternoon. Shares of health care companies in the S&P 500 also were up 1% as a group while the Nasdaq Biotechnology index was climbing 1%.
Among health care stocks moving on news:
(+) Eli Lilly and Co ( LLY ) was fractionally higher after the drugmaker Friday completed its acquisition of Loxo Oncology ( LOXO ). It paid $235 per share for 26 million Loxo shares, or $6.11 billion, for about 85% of Loxo's outstanding shares in a tender offer. Following the tender offer, it wrapped up the transaction by buying the remainder of Loxo through a second-step merger.
In other sector news:
(+) Bio Blast Pharma ( ORPN ) rose 6.3% after unveiling a clinical collaboration with Team Sanfilippo, a non-profit medical research foundation, to evaluate the safety and efficacy of the firm's proprietary Trehalose solution to treat patients with Sanfilippo syndrome.
(-) Achaogen ( AKAO ) slumped almost 35% on Friday after the biotech company priced a $15 million public offering of 15 million shares at $1 apiece, representing a 29.6% discount to Thursday's closing price for its stock. Investors also received one short-term warrant and one long-term warrant to buy an additional share each for each share they purchased in the offering.
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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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