Markets

Health Care Sector Update for 02/23/2018: PBYI, BLCM, PFE

Top Health Care Stocks

JNJ +0.68%

PFE +0.70%

ABT +0.22%

MRK +0.27%

AMGN +0.85%

Health care stocks were trending higher, including a more than 0.6% advance for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 were up over 0.6% as a group while the Nasdaq Biotechnology index was rising nearly 0.5%.

Among health care stocks moving on news:

- Puma ( PBYI ) retreated Friday, sinking almost 7% to a session low of $61.70 a share, after an European advisory panel recommended against approving the company's Neratinib drug candidate as a potential treatment for certain forms of breast cancer. In addition to telling the European Medicines Agency it should reject Puma's application for marketing authorization, the Committee for Medicinal Products for Human Use also told the company it may request a re-examination within 15 days of receiving the final opinion package.

In other sector news:

+ Bellicum Pharmaceuticals ( BLCM ) advanced Friday after the US Food and Drug Administration outlined for the company the criteria needed for the agency to lift the clinical hold on US studies of its BPX-501 drug candidate, an adjunct T cell therapy administered after allogeneic hematopoietic stem cell transplant to improve outcomes in patients lacking a matched donor. The company said it will need to implement revisions to the protocols for the US study, including the addition of more comprehensive monitoring and management of neurotoxicity. It also will revise the investigator brochure and informed consent documents used to inform health care providers, patients and caregivers of the changes. The current clinical hold does not affect Bellicum's BP-004 registration trial in Europe.

+ Pfizer ( PFE ) wa fractionally higher Friday after a European advisory panel told regulators they should not expand the authorized uses for its Sutent medication to include adult patients at high risk of recurring kidney cancer. The Committee for Medicinal Products for Human Use recommendation to the European Medicines Agency comes despite US regulators in November 2017 approving the renal carcinoma treatment for adult use following nephrectomy.

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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