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Health Care Sector Update for 04/19/2016: SCMP, AMGN, MRK, ABT, PFE, JNJ

Top Health-care stocks:

JNJ: +0.7

PFE: flat

ABT: flat

MRK: flat

AMGN: +0.3%

Health care shares were mostly unchanged in pre-market trade Tuesday.

In health care stocks news, Sucampo Pharmaceuticals ( SCMP ) reported that its drug candidate cobiprostone did not meaningfully improve heartburn symptoms in a Phase 2a study. Cobiprostone was being investigated for patients with non-erosive reflux disease (NERD), a subtype of gastro-esophagael reflux disease (GERD). The company said that because the trial did not meet its primary endpoints, it will discontinue development of cobiprostone for PPI-refractory NERD/sGERD.

SCMP shares were down 1.9% at $11.11 in pre-market trading , with a 52-week range of $9.59 - $29.67.

Johnson & Johnson ( JNJ ) reported Q1 adjusted earnings rose to $1.68 per diluted share from $1.56 a year ago, exceeding the $1.65 average estimate from analysts polled by Capital IQ. Revenue rose to $17.48 billion from $17.37 billion and was about in line with the $17.49 billion consensus estimate.

For 2016, Johnson & Johnson it expects sales between $71.2 billion and $71.9 billion reflecting current foreign currency exchange rates. The company previously predicted sales between $70.8 billion and $71.5 billion. Additionally, the company increased its adjusted earnings guidance for full-year 2016 to $6.53 - $6.68 per share, up from previously $6.43 to $6.58. The Street consensus is $71.5 billion in sales and earnings of $6.53 per share.

JNJ shares were up 0.7% at $111.67, on track to exceed its 52-week high of $111.10.

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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