Markets

Health Care Sector Update for 04/01/2019: BHC,BHC.TO,ACST,ACST.V,ZIOP,MNKD,UTHR,GSK

Top Health Care Stocks

JNJ -0.48%

PFE +1.00%

ABT -0.38%

MRK +0.08%

AMGN +1.04%

Health care stocks turned narrowly higher this afternoon, including a nearly 0.2% rise for the NYSE Health Care Index in late trade. Shares of health care companies in the S&P 500 also were up almost 0.2% as a group while the Nasdaq Biotechnology index was climbing about 0.2%.

Among health care stocks moving on news:

(+) Bausch Health Co ( BHC ) was almost 1.5% higher late Monday after saying its Salix Pharmaceuticals subsidiary has signed a license agreement with the University of California for the rights to intellectual property covering an investigational compound targeting the pituitary adenylate cyclase receptor 1 (PAC1) in non-alcoholic fatty liver disease, non-alcoholic steatohepatitis and various other gastrointestinal and liver diseases.

In other sector news:

(+) ZIOPHARM Oncology ( ZIOP ) was more than 4% higher after the US Food and Drug Administration granted fast track designation for its IL-12 program for the treatment of recurrent or progressive glioblastoma multiforme, a cancer of the central nervous system, in adults.

(+) Acasti Pharma ( ACST ) was swinging between small gains and losses on Monday after the biopharmaceuticals company said fasting subjects treated with a single 4 gram dose of its CaPre drug candidate - a highly purified omega-3 phospholipid concentrate derived from krill oil - demonstrated greater bioavailability as measured by levels of EPA and DHA in their bloodstream compared with patients treated with another commonly used form of omega-3.

(-) MannKind ( MNKD ) was falling 8% on Monday, giving back a small early gain. The inhaled therapeutic products maker said it received a $12.5 milestone payment through it collaboration agreement with United Therapeutics ( UTHR ) to develop a hypertension treatment.

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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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