Top Health Care Stocks
Health care stocks were moderately lower, including a 0.4% decline for the NYSE Health Care Index in recent trade. Shares of health care companies in the S&P 500 also were down 0.8% as a group while the Nasdaq Biotechnology index was falling 0.2%.
Among health care stocks moving on news:
(+) Allergan ( AGN ) was 45% higher after the Irish drugmaker said the US Food and Drug Administration (FDA) will conduct a priority review of its supplemental biologics license application proposing to expand the label indications for its Botox injections to include the treatment of upper limb spasticity in pediatric patients. The six-month priority review is expected to be completed before mid-year, the company said.
In other sector news:
(+) GTx ( GTXI ) surged Thursday, rising 75% at last look, after the biotech company agreed to merge with privately held Oncternal Therapeutics. Under terms of the proposed transaction, GTx shareholders will own 25% of the combined company and will also receive a non-transferrable contingent value right for each of their shares entitling them to half of the net proceeds from the sale or rights transfer of its androgen receptor degrader products.
(+) Co-Diagnostics ( CODX ) was hanging on to a 1% gain after the molecular diagnostics company said its Logix Smart ZDC test for the Zika, dengue, and chikungunya viruses received CE mark regulatory clearance for sales in accepting markets.
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