Markets

Health Care Sector Update for 03/12/2018: SVRA,ALNY,SNY

Top Health Care Stocks

JNJ -0.64%

PFE -0.65%

ABT 0.00%

MRK +0.36%

AMGN -0.82%

Health care stocks were mostly lower Monday, including a nearly 0.3% decline for the NYSE Health Care Index in recent trading. Shares of health care companies in the S&P 500 were down over 0.3% as a group while the Nasdaq Biotechnology index was gaining more than 0.2%.

Among health care stocks moving on news:

- Savara ( SVRA ) plunged over 14% on Monday, sinking to a session low of $9.43 a share, after the early-stage pharmaceuticals company Sunday said its Aironite drug candidate failed to meet its primary or secondary endpoints of symptom relief during phase II testing in patients with heart failure with preserved ejection fraction. "These results were obviously disappointing but we hope the study will nevertheless serve to increase the understanding of the disease mechanisms," CEO Rob Neville in prepared remarks, later adding the company's focus on treating orphan lung diseases was not affected by the study results.

In other sector news:

+ Alnylam Pharmaceuticals ( ALNY ) rose Monday after the drugmaker said Sanofi's ( SNY ) Genzyme unit turned down its opt-in rights to develop and commercialize its lumasiran NAi therapeutic for the treatment of primary Hyperoxaluria Type 1. Following the decision, Alnylam now plans on rapidly advance lumasiran into phase 3 pivotal study in late 2018, and to commercialize lumasiran globally, assuming product approval.

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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