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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
