Markets

Health Care Sector Update for 03/08/2017: TLGT,OCRX,NTRA

Top Health Care Stocks

JNJ +0.56%

PFE +0.06%

MRK +0.67%

ABT +0.06%

AMGN +0.67%

Health care stocks were moderately higher Wednesday, with the NYSE Health Care Index rising about 0.3% while shares of health care companies in the S&P 500 were up nearly 0.7% as a group.

In company news, Teligent Inc ( TLGT ) rose Wednesday after U.S. federal regulators approved the generic pharmaceutical company's abbreviated new drug application for its clobetasol propionate gel to treat inflammation and itching skin from allergic reactions as well as eczema or psoriasis.

The favorable decision by the U.S. Food and Drug Administration was already the company's second product approval so far in 2017. Overall, the company now has 18 topical generic products and four injectable products on the market in the United States.

TLGT shares were up just over 10% at $7.21 each this afternoon, easing slightly from a prior increase to a session high of $7.60 a share.

In other sector news,

(+) OCRX, (+73.3%) Discloses additional "encouraging" results from phase IIb trial of the company's OCR-002 drug candidate in hospitalized patients with hepatic encephalopathy, including a safe and speedy drop in ammonia correlating with their clinical improvement.

(-) NTRA, (-15.7%) Q4 net of $0.72 per share was $0.18 wider than Capital IQ consensus expecting a $0.54 per share net loss. Revenue falls 6.8% from last year to $49.3 mln, narrowly missing $49.82 mln consensus. Guides FY17 revenue under Street views.

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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